Octahedron Capital Management L.P. Makes New Investment in Shopify Inc. $SHOP

Octahedron Capital Management L.P. bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,300 shares of the software maker’s stock, valued at approximately $727,000. Shopify comprises approximately 0.5% of Octahedron Capital Management L.P.’s holdings, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Shopify by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 49,316,695 shares of the software maker’s stock valued at $5,688,053,000 after purchasing an additional 1,354,415 shares during the last quarter. Jennison Associates LLC raised its position in Shopify by 118.1% in the 2nd quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock valued at $1,328,787,000 after purchasing an additional 6,238,829 shares during the last quarter. Geode Capital Management LLC boosted its stake in Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after purchasing an additional 1,781,530 shares during the period. Mackenzie Financial Corp grew its position in Shopify by 19.7% during the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock worth $822,745,000 after purchasing an additional 1,426,406 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Shopify in the first quarter valued at $667,392,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. DA Davidson raised their price target on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Loop Capital lowered shares of Shopify from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Tuesday, July 22nd. TD Securities raised their target price on shares of Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. increased their price target on shares of Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Arete reissued a “neutral” rating on shares of Shopify in a research note on Wednesday, July 23rd. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $163.89.

Shopify Price Performance

Shares of Shopify stock opened at $140.45 on Wednesday. The business has a 50 day moving average price of $156.49 and a 200 day moving average price of $133.13. The company has a market capitalization of $182.84 billion, a P/E ratio of 104.04, a P/E/G ratio of 5.17 and a beta of 2.73. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate 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. As a group, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify 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.