Acadian Asset Management LLC Has $22.88 Million Stock Holdings in Shopify Inc. $SHOP

Acadian Asset Management LLC boosted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 17.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,396 shares of the software maker’s stock after buying an additional 28,933 shares during the period. Acadian Asset Management LLC’s holdings in Shopify were worth $22,881,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SHOP. Prosperity Consulting Group LLC grew its stake in Shopify by 1.5% in the second quarter. Prosperity Consulting Group LLC now owns 6,011 shares of the software maker’s stock valued at $693,000 after acquiring an additional 90 shares during the period. Hummer Financial Advisory Services Inc lifted its holdings in shares of Shopify by 3.8% in the 2nd quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock worth $299,000 after purchasing an additional 95 shares in the last quarter. SouthState Corp grew its position in Shopify by 3.7% in the 2nd quarter. SouthState Corp now owns 2,768 shares of the software maker’s stock valued at $319,000 after purchasing an additional 99 shares during the period. Salem Investment Counselors Inc. increased its stake in Shopify by 16.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock valued at $81,000 after purchasing an additional 100 shares in the last quarter. Finally, Moseley Investment Management Inc. raised its holdings in Shopify by 2.8% during the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock worth $424,000 after buying an additional 100 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SHOP. Stifel Nicolaus set a $175.00 price objective on shares of Shopify in a research note on Tuesday, November 4th. CIBC reaffirmed an “outperform” rating on shares of Shopify in a research report on Wednesday, November 5th. Wedbush reiterated an “outperform” rating and set a $185.00 price target (up previously from $160.00) on shares of Shopify in a research note on Tuesday, November 4th. Barclays set a $140.00 price objective on Shopify and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $200.00 target price (up previously from $180.00) on shares of Shopify in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twenty-three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.89.

Shopify Stock Up 4.2%

Shares of NASDAQ SHOP opened at $158.88 on Tuesday. The company has a market capitalization of $206.49 billion, a PE ratio of 117.69, a PEG ratio of 5.70 and a beta of 2.73. The stock’s 50 day moving average price is $155.95 and its 200-day moving average price is $131.00. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The business 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, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Company Profile

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.