Shopify Inc. $SHOP Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 51.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104,766 shares of the software maker’s stock after selling 110,816 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Shopify were worth $12,388,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SHOP. Vanguard Group Inc. boosted its holdings in Shopify by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after acquiring an additional 743,803 shares during the period. Norges Bank purchased a new stake in Shopify during the fourth quarter worth about $2,611,797,000. Invesco Ltd. increased its stake in Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after purchasing an additional 1,252,074 shares during the period. Geode Capital Management LLC lifted its position in shares of Shopify by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Shopify by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock worth $1,627,352,000 after purchasing an additional 827,643 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent research reports. Rothschild & Co Redburn set a $130.00 price objective on shares of Shopify and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a report on Monday, July 13th. Citigroup decreased their price target on shares of Shopify from $156.00 to $150.00 and set a “buy” rating for the company in a research report on Friday. Citizens Jmp cut their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Shopify in a report on Monday, July 20th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.69.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Citigroup lowered its price target on Shopify to $150 from $156 but kept a Buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Several analyst-focused articles highlighted Shopify as a buy and pointed to roughly 28% upside based on consensus price targets, which can support sentiment around the stock. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Growth-oriented coverage continued to argue that Shopify’s strong fundamentals and growth profile could make it attractive for long-term investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Neutral Sentiment: Reports about Shopify merchants processing record GMV and the broader merchant ecosystem underscore platform momentum, but they were more of an industry/operating backdrop than a direct stock-moving announcement. DSCP Smart Fulfillment Addresses Critical Gap as Shopify Merchants Process Record $378 Billion in Annual Sales
• Negative Sentiment: Rothschild & Co Redburn cut Shopify to Hold, a downgrade that likely pressured the shares and signaled more caution on the stock’s near-term upside. Shopify (NASDAQ:SHOP) Cut to “Hold” at Rothschild & Co Redburn

Shopify Price Performance

NASDAQ SHOP opened at $113.75 on Monday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The firm has a 50 day moving average of $114.39 and a two-hundred day moving average of $121.82. The stock has a market capitalization of $147.61 billion, a PE ratio of 112.62, a price-to-earnings-growth ratio of 2.45 and a beta of 2.58.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.