Sustainable Growth Advisers LP Grows Position in Shopify Inc. $SHOP

by · The Markets Daily

Sustainable Growth Advisers LP lifted its position in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 11.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 128,662 shares of the software maker’s stock after purchasing an additional 13,577 shares during the quarter. Sustainable Growth Advisers LP’s holdings in Shopify were worth $14,841,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Nuveen LLC purchased a new position in shares of Shopify in the 1st quarter valued at $667,392,000. Jennison Associates LLC raised its position in Shopify by 118.1% in the second quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock valued at $1,328,787,000 after purchasing an additional 6,238,829 shares during the period. Geode Capital Management LLC lifted its stake in shares of Shopify by 19.9% during the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after purchasing an additional 1,781,530 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Shopify in the second quarter worth about $191,369,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Shopify by 34.4% in the first quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after buying an additional 1,522,573 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Evercore ISI raised their price target on shares of Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, August 8th. KeyCorp lifted their price target on shares of Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. TD Securities boosted their price target on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group raised their price objective on Shopify from $120.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.89.

Read Our Latest Stock Analysis on SHOP

Shopify Trading Down 0.2%

Shares of NASDAQ SHOP opened at $146.04 on Friday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The company has a market cap of $190.12 billion, a price-to-earnings ratio of 108.18, a price-to-earnings-growth ratio of 5.41 and a beta of 2.73. The stock’s 50 day simple moving average is $156.68 and its 200 day simple moving average is $132.05.

Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

About Shopify

(Free Report)

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.

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