First Trust Advisors LP Raises Holdings in Shopify Inc. $SHOP

First Trust Advisors LP boosted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 20.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,177,120 shares of the software maker’s stock after acquiring an additional 196,528 shares during the quarter. First Trust Advisors LP’s holdings in Shopify were worth $139,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Shopify by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after purchasing an additional 743,803 shares during the period. Norges Bank purchased a new stake in shares of Shopify during the 4th quarter worth about $2,611,797,000. Invesco Ltd. increased its position in Shopify by 9.8% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its position in Shopify by 6.2% during the 4th 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 raised its holdings in Shopify by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after buying an additional 827,643 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Several recent articles highlighted Shopify’s strong growth profile, pointing to its ability to generate exceptional returns and calling it attractive for growth investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Positive Sentiment: Analyst coverage remained upbeat overall, with reports saying Wall Street sees Shopify as a buy and consensus price targets implying meaningful upside from current levels. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Another analyst-focused piece said Shopify could surge about 27.9% based on consensus estimates, suggesting expectations for continued earnings momentum. Wall Street Analysts Think Shopify (SHOP) Could Surge 27.88%: Read This Before Placing a Bet
• Neutral Sentiment: Shopify ecosystem news remained constructive, as OneMagnify earned Premier Partner status, which underscores ongoing platform adoption and partner activity. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Negative Sentiment: Offsetting the bullish commentary, Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though its new price target still implies upside. Zacks.com
• Negative Sentiment: Separate coverage noted unusually high options volume and an earlier session where Shopify lagged the broader market, suggesting traders have been active and cautious around the stock. Shopify Sees Unusually High Options Volume (NASDAQ:SHOP)

Shopify Price Performance

Shares of Shopify stock opened at $112.00 on Friday. The business has a 50-day moving average of $114.12 and a 200-day moving average of $122.19. The company has a market capitalization of $145.34 billion, a PE ratio of 110.89, a P/E/G ratio of 2.55 and a beta of 2.58. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Rothschild & Co Redburn set a $130.00 price target on shares of Shopify and gave the company a “neutral” rating in a research report on Tuesday. BTIG Research started coverage on shares of Shopify in a research report on Friday, July 10th. They issued a “buy” rating for the company. Barclays set a $126.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group reduced their target price on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $150.00 price target on shares of Shopify and gave the stock a “buy” rating in a research report on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.86.

Shopify Company 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.