CI Investments Inc. Has $21.12 Million Holdings in Shopify Inc. $SHOP

CI Investments Inc. cut its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 65.6% in the first quarter, Holdings Channel reports. The fund owned 178,051 shares of the software maker’s stock after selling 340,084 shares during the period. CI Investments Inc.’s holdings in Shopify were worth $21,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TBH Global Asset Management LLC increased its holdings in shares of Shopify by 1.2% in the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock valued at $1,036,000 after purchasing an additional 75 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Shopify by 13.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock valued at $72,000 after buying an additional 77 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in Shopify by 2.6% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock valued at $509,000 after buying an additional 80 shares during the last quarter. Pacific Sage Partners LLC increased its stake in shares of Shopify by 3.9% in the 4th quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock valued at $343,000 after buying an additional 80 shares during the period. Finally, WealthCollab LLC increased its stake in shares of Shopify by 26.7% in the 4th quarter. WealthCollab LLC now owns 380 shares of the software maker’s stock valued at $61,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price target on shares of Shopify in a research note on Tuesday, May 5th. Weiss Ratings cut Shopify from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Piper Sandler restated an “overweight” rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. National Bank Financial set a $155.00 target price on shares of Shopify and gave the company an “outperform” rating in a research note on Monday. Finally, Rothschild & Co Redburn set a $130.00 price target on shares of Shopify and gave the stock a “neutral” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $157.86.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $118.42 on Thursday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The stock has a market cap of $153.67 billion, a P/E ratio of 117.25, a P/E/G ratio of 2.67 and a beta of 2.58. The firm has a 50 day moving average price of $113.83 and a 200 day moving average price of $122.51.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s ecosystem gained a credibility boost after OneMagnify said it reached Shopify Premier Partner status, a top-tier designation that highlights strong technical capability and enterprise commerce expertise. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Positive Sentiment: DoorDash announced a native integration for U.S. brick-and-mortar Shopify merchants, allowing them to sell through DoorDash with synced inventory and easier onboarding, which could expand Shopify merchants’ reach and support platform adoption. Shopify (SHOP) Gains A New DoorDash Link As Its Valuation Narrative Faces A Test
• Neutral Sentiment: Shopify was highlighted in several analyst and media pieces as a closely watched software name, with Morgan Stanley saying sentiment across software stocks has become too negative. That may support the broader valuation narrative, but it is not a direct catalyst on its own. Morgan Stanley Analysts Say Sentiment Has Gotten ‘Too Negative’ on Software Stocks. These Are Their Picks
• Negative Sentiment: Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though the new $130 price target still implies some upside from recent levels. Zacks.com downgrade coverage
• Negative Sentiment: Recent trading commentary also noted Shopify has been sinking while the broader market gained, reinforcing that investors are taking profits or reassessing the near-term valuation after a strong run. Shopify (SHOP) Stock Sinks As Market Gains: What You Should Know

Shopify Profile

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.