Korea Investment CORP Buys 31,830 Shares of Shopify Inc. $SHOP

Korea Investment CORP increased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,047,413 shares of the software maker’s stock after acquiring an additional 31,830 shares during the quarter. Korea Investment CORP’s holdings in Shopify were worth $120,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Family Legacy Financial Solutions LLC bought a new position in Shopify in the 2nd quarter worth $25,000. Financial Gravity Companies Inc. bought a new position in Shopify in the 2nd quarter worth approximately $27,000. Rothschild Investment LLC grew its stake in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in Shopify in the 2nd quarter worth approximately $29,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several recent research reports. UBS Group restated a “neutral” rating and set a $165.00 target price (up from $145.00) on shares of Shopify in a research report on Wednesday, November 5th. Scotiabank raised their target price on shares of Shopify from $150.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $181.00 price target (up previously from $156.00) on shares of Shopify in a report on Wednesday, November 5th. TD Securities upped their price objective on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. Finally, DA Davidson lifted their price target on shares of Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Twenty-two investment analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $165.69.

Shopify Price Performance

NASDAQ SHOP opened at $159.34 on Thursday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The company has a market capitalization of $207.44 billion, a PE ratio of 118.03, a P/E/G ratio of 5.81 and a beta of 2.73. The company has a fifty day moving average of $157.23 and a 200 day moving average of $135.26.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. Shopify has set its Q4 2025 guidance at EPS. Research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Company Profile

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.