Pinnacle Wealth Planning Services Inc. Grows Stock Holdings in Shopify Inc. $SHOP

Pinnacle Wealth Planning Services Inc. grew its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 17.7% during the second quarter, Holdings Channel.com reports. The fund owned 2,698 shares of the software maker’s stock after purchasing an additional 406 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Shopify were worth $311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new position in Shopify in the first quarter worth approximately $667,392,000. Jennison Associates LLC raised its position in Shopify by 118.1% during 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Shopify by 19.9% in 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 buying an additional 1,781,530 shares during the period. ProShare Advisors LLC bought a new position in shares of Shopify during the 2nd quarter worth $191,369,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Shopify by 34.4% during the first quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after buying an additional 1,522,573 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 4.0%

NASDAQ SHOP opened at $146.00 on Thursday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The company has a 50 day moving average price of $156.57 and a 200 day moving average price of $133.22. The firm has a market cap of $190.07 billion, a PE ratio of 108.15, a price-to-earnings-growth ratio of 5.19 and a beta of 2.73.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its 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. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SHOP shares. Truist Financial set a $155.00 price objective on Shopify and gave the company a “hold” rating in a report on Tuesday, November 4th. TD Securities boosted their price target on shares of Shopify from $130.00 to $156.00 and gave the company a “hold” rating in a report on Friday, October 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $181.00 price target (up previously from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective (up from $180.00) on shares of Shopify in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research note on Monday. Twenty-two analysts have rated the stock with a Buy rating and twenty-four have issued a Hold rating to the stock. According to MarketBeat, Shopify has a consensus rating of “Hold” and an average price target of $163.89.

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.