RFG Advisory LLC Boosts Holdings in Shopify Inc. $SHOP

RFG Advisory LLC lifted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 31.2% in the second quarter, HoldingsChannel reports. The fund owned 33,711 shares of the software maker’s stock after buying an additional 8,010 shares during the period. RFG Advisory LLC’s holdings in Shopify were worth $3,849,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norris Financial Group LLC bought a new stake in shares of Shopify in the 1st quarter valued at about $1,586,000. Infusive Asset Management Inc. increased its stake in shares of Shopify by 27.4% in the first quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker’s stock worth $5,173,000 after buying an additional 9,374 shares during the period. OMERS ADMINISTRATION Corp increased its position in shares of Shopify by 18.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock valued at $6,876,000 after acquiring an additional 9,096 shares during the period. Ninepoint Partners LP purchased a new position in Shopify during the 2nd quarter valued at about $29,027,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Shopify by 8.5% during the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock valued at $998,137,000 after buying an additional 660,198 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. BTIG Research started coverage on shares of Shopify in a report on Friday, July 10th. They issued a “buy” rating for the company. Susquehanna began coverage on shares of Shopify in a research note on Friday, July 10th. They issued a “neutral” rating on the stock. Rosenblatt Securities initiated coverage on Shopify in a research note on Thursday, August 20th. They set a “buy” rating and a $175.00 target price on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $180.00 price target (up from $144.00) on shares of Shopify in a report on Friday, August 7th. Finally, BMO Capital Markets set a $165.00 price target on Shopify and gave the stock an “outperform” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $171.65.

Shopify Trading Down 5.5%

Shares of SHOP stock opened at $126.79 on Thursday. The stock has a fifty day simple moving average of $135.32 and a two-hundred day simple moving average of $123.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The firm has a market capitalization of $163.13 billion, a PE ratio of 85.67, a PEG ratio of 2.73 and a beta of 2.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The business had revenue of $3.58 billion during the quarter. During the same quarter in the previous year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. On average, analysts predict that Shopify Inc. will post 1.45 EPS for the current fiscal year.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Tailwind Labs acquisition: Shopify acquired Tailwind Labs, which described the transaction as providing a “stable, long-term home.” The deal could strengthen Shopify’s developer, design, and commerce ecosystem, although its financial impact was not disclosed. Shopify acquires Tailwind Labs Tailwind finds stable long-term home with Shopify acquisition
• Positive Sentiment: AI and payments remain growth opportunities: Coverage highlights Shopify’s push into artificial intelligence, while activity surrounding a commerce payments protocol connected with Shopify and Coinbase suggests continued experimentation with blockchain-based payments. These developments could support merchant engagement and transaction growth, but their contribution to earnings remains uncertain. How Shopify’s Push into AI Is Working Out Commerce Payments Protocol sees surge in volume on Base network
• Neutral Sentiment: Analyst support: Broker views continue to frame Shopify as a potentially attractive investment, but the articles do not identify a material new rating change or price-target revision. Shopify Is Considered a Good Investment by Brokers
• Negative Sentiment: Sector-specific selling: Shopify and Etsy declined more than the broader e-commerce group, suggesting investors were targeting certain platform stocks rather than broadly abandoning online retail. Shopify and Etsy E-Commerce Selloff
• Negative Sentiment: Operational concern: A reported Shopify outage may have raised short-term concerns about merchant reliability, though no lasting business impact was reported. Shopify outage reported

About Shopify

Shopify Inc (NASDAQ:SHOP) is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow retail operations. Its platform enables merchants to create and manage online stores, sell through social media and other digital channels, and support in-person sales through Shopify’s point-of-sale solutions.

Shopify’s products and services include online storefront and website-building tools, payment processing through Shopify Payments, point-of-sale hardware and software, inventory and order management, shipping and fulfillment tools, marketing features, analytics, and financing services for eligible merchants.