Correct Capital Wealth Management Has $756,000 Holdings in Shopify Inc. $SHOP

Correct Capital Wealth Management lowered its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 29.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,557 shares of the software maker’s stock after selling 2,719 shares during the period. Correct Capital Wealth Management’s holdings in Shopify were worth $756,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after buying an additional 584 shares during the period. Pacer Advisors Inc. lifted its position in Shopify by 3.0% during the 1st quarter. Pacer Advisors Inc. now owns 10,872 shares of the software maker’s stock worth $1,038,000 after acquiring an additional 312 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Shopify by 27.5% during the first quarter. HB Wealth Management LLC now owns 15,076 shares of the software maker’s stock valued at $1,439,000 after acquiring an additional 3,249 shares during the period. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Shopify in the first quarter valued at about $730,000. Finally, SLT Holdings LLC grew its position in shares of Shopify by 3.3% in the first quarter. SLT Holdings LLC now owns 5,550 shares of the software maker’s stock valued at $530,000 after purchasing an additional 175 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SHOP. Robert W. Baird boosted their price objective on Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group increased their price objective on Shopify from $120.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Morgan Stanley restated an “overweight” rating and issued a $192.00 price objective (up previously from $165.00) on shares of Shopify in a research note on Wednesday, November 5th. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 6th. Finally, JMP Securities increased their price target on shares of Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $165.69.

Shopify Price Performance

SHOP stock opened at $157.37 on Wednesday. The business has a fifty day moving average price of $157.00 and a 200 day moving average price of $135.09. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19. The stock has a market capitalization of $204.87 billion, a price-to-earnings ratio of 116.57, a P/E/G ratio of 5.74 and a beta of 2.73.

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

About Shopify

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.