TTRF Capital Ltd Purchases Shares of 34,804 Shopify Inc. $SHOP

TTRF Capital Ltd purchased a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 34,804 shares of the software maker’s stock, valued at approximately $3,974,000. Shopify comprises approximately 2.6% of TTRF Capital Ltd’s portfolio, making the stock its 7th biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Hobart Private Capital LLC raised its position in Shopify by 109.8% in the 2nd quarter. Hobart Private Capital LLC now owns 11,384 shares of the software maker’s stock worth $1,300,000 after purchasing an additional 5,957 shares during the period. Versant Capital Management Inc boosted its position in Shopify by 4.5% during the second quarter. Versant Capital Management Inc now owns 3,958 shares of the software maker’s stock valued at $452,000 after buying an additional 170 shares during the period. Sapient Capital LLC boosted its position in Shopify by 161.7% during the first quarter. Sapient Capital LLC now owns 5,331 shares of the software maker’s stock valued at $632,000 after buying an additional 3,294 shares during the period. Western Wealth Management LLC grew its stake in shares of Shopify by 94.9% during the first quarter. Western Wealth Management LLC now owns 6,745 shares of the software maker’s stock valued at $800,000 after buying an additional 3,284 shares during the last quarter. Finally, Rathbones Group PLC grew its stake in shares of Shopify by 7.8% during the first quarter. Rathbones Group PLC now owns 1,510,859 shares of the software maker’s stock valued at $179,217,000 after buying an additional 109,078 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 5.4%

Shares of NASDAQ:SHOP opened at $123.30 on Wednesday. The company has a 50-day moving average price of $117.23 and a 200-day moving average price of $119.74. The company has a market cap of $160.00 billion, a price-to-earnings ratio of 122.08, a price-to-earnings-growth ratio of 2.52 and a beta of 2.58. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reportedly saw a 13-fold increase in orders referred by AI tools, with AI becoming a faster-growing source of traffic and sales than traditional search. The trend supports Shopify’s strategy of becoming an AI-enabled commerce platform. Shopify Sees 13-Fold AI Order Surge
• Positive Sentiment: Analysts are increasingly constructive ahead of the Q2 report. Expectations call for high-20% revenue growth, supported by gross merchandise volume, payments and AI-related opportunities, while analyst upgrades are reportedly accumulating. Pre-Q2 Earnings: Is Shopify Stock a Portfolio Must-Have? Shopify Q2 Earnings Preview
• Positive Sentiment: Market coverage is framing AI as an accelerator of Shopify’s existing commerce ecosystem rather than a threat, potentially strengthening the long-term growth narrative. Shopify: AI Will Accelerate That Evolution
• Positive Sentiment: Shopify partners and developers continue expanding the platform’s reach: Marmeto was promoted to Shopify Plus Platinum status, while Minty launched a new Shopify app designed to improve the path from product discovery to purchase. Marmeto Shopify Plus Partnership Minty Launches Shopify App
• Neutral Sentiment: Shopify is scheduled to report Q2 results imminently. Investors are watching AI integration, revenue growth, gross merchandise volume, payments, margins and guidance. Shopify Q2 Earnings Watch
• Negative Sentiment: Shopify CEO Tobias Lütke’s reported comments about voting eligibility for people who do not pay income tax could create reputational or political controversy, although the issue does not directly affect operating results. Shopify CEO Voting Comments

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. BTIG Research began coverage on Shopify in a research report on Friday, July 10th. They set a “buy” rating on the stock. Robert W. Baird set a $150.00 price target on Shopify in a research note on Wednesday, May 6th. Citigroup lowered their price objective on Shopify from $156.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Finally, Barclays set a $126.00 price objective on Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.69.

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.