Hilltop Holdings Inc. Sells 10,290 Shares of Shopify Inc. $SHOP

Hilltop Holdings Inc. trimmed its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 62.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,249 shares of the software maker’s stock after selling 10,290 shares during the quarter. Hilltop Holdings Inc.’s holdings in Shopify were worth $741,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Shopify in the fourth quarter worth approximately $2,611,797,000. Sands Capital Management LLC lifted its position in Shopify by 37.0% during the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock valued at $1,530,187,000 after purchasing an additional 2,568,765 shares during the period. Invesco Ltd. lifted its position in Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Shopify by 7,207.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock worth $184,883,000 after purchasing an additional 1,132,545 shares during the last quarter. Finally, Select Equity Group L.P. boosted its holdings in Shopify by 92.5% in the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock worth $259,124,000 after purchasing an additional 1,079,494 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Citigroup lowered its price target on Shopify to $150 from $156 but kept a Buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Several analyst-focused articles highlighted Shopify as a buy and pointed to roughly 28% upside based on consensus price targets, which can support sentiment around the stock. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Growth-oriented coverage continued to argue that Shopify’s strong fundamentals and growth profile could make it attractive for long-term investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Neutral Sentiment: Reports about Shopify merchants processing record GMV and the broader merchant ecosystem underscore platform momentum, but they were more of an industry/operating backdrop than a direct stock-moving announcement. DSCP Smart Fulfillment Addresses Critical Gap as Shopify Merchants Process Record $378 Billion in Annual Sales
• Negative Sentiment: Rothschild & Co Redburn cut Shopify to Hold, a downgrade that likely pressured the shares and signaled more caution on the stock’s near-term upside. Shopify (NASDAQ:SHOP) Cut to “Hold” at Rothschild & Co Redburn

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Zacks Research upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Bank of America began coverage on shares of Shopify in a research note on Tuesday, July 7th. They set a “buy” rating and a $150.00 price target on the stock. Canaccord Genuity Group dropped their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $180.00 target price on shares of Shopify in a report on Tuesday, May 5th. Finally, Stifel Nicolaus set a $150.00 target price on shares of Shopify and gave the company a “buy” rating in a research report on Thursday, July 9th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.69.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $113.75 on Monday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The business’s 50 day moving average is $114.39 and its 200 day moving average is $121.82. The stock has a market cap of $147.61 billion, a P/E ratio of 112.62, a price-to-earnings-growth ratio of 2.45 and a beta of 2.58.

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.