Royal Fund Management LLC Buys 4,557 Shares of Shopify Inc. $SHOP

Royal Fund Management LLC raised its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 257.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,326 shares of the software maker’s stock after buying an additional 4,557 shares during the period. Royal Fund Management LLC’s holdings in Shopify were worth $750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHOP. Norges Bank acquired a new stake in shares of Shopify during the 4th quarter valued at $2,611,797,000. Sands Capital Management LLC grew its position in Shopify by 37.0% during the 4th quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after acquiring an additional 2,568,765 shares during the last quarter. Invesco Ltd. increased its holdings in Shopify by 9.8% in the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after purchasing an additional 1,252,074 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Shopify by 7,207.2% in the 4th 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 in the last quarter. Finally, Select Equity Group L.P. raised its position 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 valued at $259,124,000 after purchasing an additional 1,079,494 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SHOP. Stifel Nicolaus set a $150.00 price target on Shopify and gave the company a “buy” rating in a research note on Thursday, July 9th. Citizens Jmp lowered their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Oppenheimer reissued an “outperform” rating and set a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Finally, Bank of America started coverage on shares of Shopify in a research report on Tuesday, July 7th. They issued a “buy” rating and a $150.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.69.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Analysts expect Shopify to post another earnings beat, citing favorable earnings-estimate revisions and momentum indicators. The outlook could support the stock if results and guidance exceed expectations. Shopify Earnings Expected to Grow
• Positive Sentiment: Commentary comparing Shopify with Meta Platforms argues that Shopify’s AI tools cover merchant operations, product discovery and checkout, positioning the company to benefit as AI-generated traffic and orders increase. Shopify vs. Meta Platforms
• Positive Sentiment: Shopify was included among software stocks benefiting from lower Treasury yields and renewed investor interest in enterprise software and the AI investment cycle. This provides a favorable broader-market backdrop for SHOP. Zscaler, Shopify, and PTC Shares
• Positive Sentiment: Shopify’s ecosystem continues to expand, with Velocity Commerce receiving the company’s “Built for Shopify” designation and Marmeto becoming a Shopify Platinum Partner. These developments reinforce platform quality, app adoption and partner support, though they are unlikely to materially change near-term revenue. Velocity Commerce Built for Shopify

Shopify Trading Down 5.2%

NASDAQ SHOP opened at $122.40 on Friday. The firm has a market capitalization of $158.83 billion, a PE ratio of 121.19, a price-to-earnings-growth ratio of 2.79 and a beta of 2.58. The business’s 50-day moving average price is $116.30 and its two-hundred day moving average price is $120.70. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify 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.