Sound View Wealth Advisors Group LLC Decreases Stake in Shopify Inc. $SHOP

Sound View Wealth Advisors Group LLC lessened its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,548 shares of the software maker’s stock after selling 368 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Shopify were worth $986,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify during the second quarter worth $25,000. Tradewinds Capital Management LLC lifted its position in Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the period. Coastline Trust Co acquired a new stake in Shopify during the 2nd quarter worth about $29,000. Smithfield Trust Co grew its stake in Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after purchasing an additional 188 shares during the last quarter. Finally, Dagco Inc. acquired a new position in shares of Shopify in the first quarter valued at about $30,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 2.3%

Shares of SHOP stock opened at $152.41 on Monday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The business’s 50 day moving average is $155.59 and its two-hundred day moving average is $130.55. The company has a market capitalization of $198.08 billion, a P/E ratio of 112.90, a P/E/G ratio of 5.70 and a beta of 2.73.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. On average, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SHOP shares. KeyCorp lifted their target price on Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. The Goldman Sachs Group increased their price target on shares of Shopify from $120.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. DA Davidson lifted their price objective on shares of Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Barclays set a $140.00 price objective on shares of Shopify and gave the company an “equal weight” rating in a report on Wednesday. Finally, Morgan Stanley reissued an “overweight” rating and set a $192.00 target price (up previously from $165.00) on shares of Shopify in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twenty-three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.89.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.