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Retirement Planning Group LLC purchased a new position in shares of Shopify Inc.
(NASDAQ:SHOP Free Report) (TSE:SHOP) during the first quarter, according to its most recent disclosure with the SEC.
The institutional investor purchased 4,056 shares of the software makers stock, valued at approximately $481,000.
A number of other hedge funds have also recently added to or reduced their stakes in SHOP.
First Affirmative Financial Network raised its position in shares of Shopify by 3.4% during the third quarter.
First Affirmative Financial Network now owns 2,275 shares of the software makers stock worth $338,000 after purchasing an additional 75 shares during the period.
TBH Global Asset Management LLC increased its stake in Shopify by 1.2% during the 4th quarter.
TBH Global Asset Management LLC now owns 6,438 shares of the software makers stock valued at $1,036,000 after purchasing an additional 75 shares in the last quarter.
Smartleaf Asset Management LLC increased its stake in Shopify by 13.9% during the 2nd quarter.
Smartleaf Asset Management LLC now owns 631 shares of the software makers stock valued at $72,000 after purchasing an additional 77 shares in the last quarter.
Dynamic Advisor Solutions LLC raised its holdings in Shopify by 2.6% during the fourth quarter.
Dynamic Advisor Solutions LLC now owns 3,164 shares of the software makers stock worth $509,000 after buying an additional 80 shares during the last quarter.
Finally, Pacific Sage Partners LLC raised its holdings in Shopify by 3.9% during the fourth quarter.
Pacific Sage Partners LLC now owns 2,133 shares of the software makers stock worth $343,000 after buying an additional 80 shares during the last quarter.
Institutional investors and hedge funds own 69.27% of the companys stock.
Wall Street Analyst Weigh In A number of research analysts have recently issued reports on the stock.
Needham & Company LLC reiterated a buy rating and set a $180.00 price objective on shares of Shopify in a report on Tuesday, May 5th.
BMO Capital Markets initiated coverage on shares of Shopify in a report on Friday, July 10th.
They issued a market perform rating on the stock.
Morgan Stanley cut shares of Shopify from an overweight rating to a buy rating in a research report on Monday.
Canaccord Genuity Group cut their price target on Shopify from $165.00 to $145.00 and set a buy rating for the company in a research note on Wednesday, May 6th.
Finally, Barclays set a $126.00 price objective on Shopify and gave the stock an equal weight rating in a report on Wednesday, May 6th.
Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the companys stock.
According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $157.58.
Shopify Stock Performance Shopify stock opened at $123.55 on Thursday.
Shopify Inc.
has a fifty-two week low of $94.00 and a fifty-two week high of $182.19.
The stock has a market cap of $160.33 billion, a PE ratio of 122.33, a price-to-earnings-growth ratio of 2.73 and a beta of 2.58.
The firms 50-day simple moving average is $111.93 and its 200 day simple moving average is $123.98.
More Shopify News Here are the key news stories impacting Shopify this week: - Positive Sentiment: Several brokerages turned more constructive on Shopify, including Jefferies, Stifel and Bank of America, with upgrades and higher price targets pointing to renewed confidence in earnings potential and longer-term growth.
Why Wall Street Is Suddenly Rushing Back Into Beaten-Down Shopify (SHOP) Stock - Positive Sentiment: Shopify also received a Zacks Rank #1 (Strong Buy), reinforcing the bullish view that earnings expectations may improve.
Shopify (SHOP) Upgraded to Strong Buy: What Does It Mean for the Stock? - Positive Sentiment: DoorDash announced a native Shopify integration that lets independent merchants add on-demand delivery more quickly, which could make Shopifys platform more attractive to small retailers and support merchant engagement.
DoorDash teams with Shopify on delivery for small retailers - Neutral Sentiment: Fintech and e-commerce commentary continued to spotlight Shopifys payments infrastructure and platform ecosystem, but these pieces were mostly broad business coverage rather than a direct catalyst.
Shopify: Redefining Payments Infrastructure for Merchants - Negative Sentiment: The latest trading session showed Shopify falling even as the broader market rose, reflecting ongoing investor caution after a sizable year-to-date decline and concerns about slower growth and AI-related costs.
Shopify (SHOP) Stock Falls Amid Market Uptick: What Investors Need to Know - Negative Sentiment: A separate article about fake Shopify stores being used in an alleged scam could add negative headlines around the brand, though it appears unrelated to Shopifys core business.
NFL Players Targeted in E-Commerce Scheme Using Fake Shopify Stores About Shopify 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.
Read More - Five stocks we like better than Shopify - Why Johnson & Johnsons Earnings Dip Looks Like a Buying Opportunity - CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks - Why ASMLs AI Monopoly Is Still Getting Stronger - Apples AI Toll Booth Thesis Faces Its Biggest Test Yet Before Earnings Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc.
(NASDAQ:SHOP Free Report) (TSE:SHOP).
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