Shopify Inc. $SHOP Shares Bought by Insight Holdings Group LLC

Insight Holdings Group LLC grew its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 231.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 94,660 shares of the software maker’s stock after buying an additional 66,130 shares during the quarter. Shopify comprises 0.8% of Insight Holdings Group LLC’s portfolio, making the stock its 15th largest holding. Insight Holdings Group LLC’s holdings in Shopify were worth $11,229,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SHOP. Brighton Jones LLC increased its position in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after purchasing an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Shopify by 6.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after purchasing an additional 506 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Shopify during the second quarter worth $53,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of Shopify by 15.3% during the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after purchasing an additional 1,479 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the topic of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. BTIG Research started coverage on Shopify in a research report on Friday, July 10th. They set a “buy” rating for the company. Rothschild & Co Redburn set a $130.00 price objective on Shopify and gave the company a “neutral” rating in a report on Tuesday. Citizens Jmp dropped their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Finally, DA Davidson cut their target price on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.69.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Citigroup lowered its price target on Shopify to $150 from $156 but kept a Buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Several analyst-focused articles highlighted Shopify as a buy and pointed to roughly 28% upside based on consensus price targets, which can support sentiment around the stock. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Growth-oriented coverage continued to argue that Shopify’s strong fundamentals and growth profile could make it attractive for long-term investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Neutral Sentiment: Reports about Shopify merchants processing record GMV and the broader merchant ecosystem underscore platform momentum, but they were more of an industry/operating backdrop than a direct stock-moving announcement. DSCP Smart Fulfillment Addresses Critical Gap as Shopify Merchants Process Record $378 Billion in Annual Sales
• Negative Sentiment: Rothschild & Co Redburn cut Shopify to Hold, a downgrade that likely pressured the shares and signaled more caution on the stock’s near-term upside. Shopify (NASDAQ:SHOP) Cut to “Hold” at Rothschild & Co Redburn

Shopify Price Performance

SHOP stock opened at $113.75 on Friday. The company has a market cap of $147.61 billion, a price-to-earnings ratio of 112.62, a price-to-earnings-growth ratio of 2.45 and a beta of 2.58. The company has a fifty day moving average price of $114.39 and a 200 day moving average price of $122.13. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify Company 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.