Fiduciary Alliance LLC Has $2.07 Million Position in Shopify Inc. $SHOP

Fiduciary Alliance LLC cut its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,263 shares of the software maker’s stock after selling 6,006 shares during the quarter. Fiduciary Alliance LLC’s holdings in Shopify were worth $2,072,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SHOP. Vanguard Group Inc. raised its holdings in shares of Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after purchasing an additional 743,803 shares during the period. Norges Bank bought a new position in shares of Shopify during the 4th quarter worth about $2,611,797,000. Invesco Ltd. grew its stake in shares of Shopify by 9.8% in the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after buying an additional 1,252,074 shares during the period. Geode Capital Management LLC grew its stake in shares of Shopify by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after buying an additional 737,892 shares during the period. Finally, Mackenzie Financial Corp increased its position in Shopify by 9.1% in the 4th 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 in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify shares had a strong session earlier this week, with a volume-backed jump that suggests traders are still willing to buy the dip, even as near-term earnings estimate revisions appear less supportive of immediate upside. Shopify (SHOP) Surges 6.0%: Is This an Indication of Further Gains?
• Positive Sentiment: Shopify continues to receive generally bullish Wall Street coverage, with the average brokerage recommendation leaning toward Buy, which can help support investor confidence in the stock’s longer-term growth story. Is It Worth Investing in Shopify (SHOP) Based on Wall Street’s Bullish Views?
• Neutral Sentiment: A new Shopify-native fraud prevention app from SEON and Domaine adds to the platform’s merchant tools, but the announcement appears more incremental than materially moving for the stock. SEON and Domaine Launch New Shopify-Native Fraud Prevention App for High Growth Brands
• Neutral Sentiment: Shopify’s AI infrastructure work, including multi-provider failover for engineers, highlights operational sophistication, but it is not an immediate catalyst for shares. How Shopify built an AI stack that doesn’t care which models survive
• Negative Sentiment: Recent analysis says Shopify has fallen more than the broader market in the latest session, reflecting continued investor caution after a strong run and concerns that valuation may still be demanding. Here’s Why Shopify (SHOP) Fell More Than Broader Market
• Negative Sentiment: One article argues that Shopify’s recent rebound may not be fully justified at current levels, suggesting investors are still debating whether the stock is priced for perfection. Shopify (SHOP) Stock After Recent Rebound Is The Current Price Still Justified

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Oppenheimer restated an “outperform” rating and set a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Canaccord Genuity Group lowered their target price on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Robert W. Baird set a $150.00 target price on Shopify in a research report on Wednesday, May 6th. Finally, Citigroup reiterated a “market outperform” rating on shares of Shopify in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.17.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $111.62 on Friday. The stock has a market cap of $144.84 billion, a price-to-earnings ratio of 110.52, a PEG ratio of 3.14 and a beta of 2.60. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm’s 50-day simple moving average is $112.89 and its 200 day simple moving average is $128.41.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. On average, sell-side analysts predict that Shopify Inc. will post 1.39 EPS for the current year.

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.