Norris Financial Group LLC Takes $1.59 Million Position in Shopify Inc. $SHOP

Norris Financial Group LLC bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,368 shares of the software maker’s stock, valued at approximately $1,586,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kingdom Financial Group LLC. acquired a new position in Shopify during the fourth quarter worth $26,000. Curio Wealth LLC purchased a new position in Shopify during the fourth quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shopify in the fourth quarter valued at about $29,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Shopify in the fourth quarter valued at about $31,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Shopify during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 5.2%

NASDAQ:SHOP opened at $122.40 on Friday. The company’s 50-day moving average price is $116.30 and its 200-day moving average price is $120.70. The company has a market cap of $158.83 billion, a P/E ratio of 121.19, a P/E/G ratio of 2.79 and a beta of 2.58. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19.

Shopify News Summary

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

Analyst Ratings Changes

Several research analysts recently weighed in on SHOP shares. Jefferies Financial Group upgraded shares of Shopify from a “hold” rating to a “buy” rating and upped their price target for the stock from $140.00 to $160.00 in a research report on Sunday, July 12th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Oppenheimer reiterated an “outperform” rating and set a $175.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. BMO Capital Markets initiated coverage on Shopify in a report on Friday, July 10th. They set a “market perform” rating for the company. Finally, Bank of America assumed coverage on Shopify in a research report on Tuesday, July 7th. They issued a “buy” rating and a $150.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.69.

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.