Advisors Asset Management Inc. Sells 4,155 Shares of Shopify Inc. $SHOP

Advisors Asset Management Inc. reduced its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 360,915 shares of the software maker’s stock after selling 4,155 shares during the period. Shopify accounts for approximately 0.7% of Advisors Asset Management Inc.’s holdings, making the stock its 14th biggest position. Advisors Asset Management Inc.’s holdings in Shopify were worth $41,632,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC increased its position in shares of Shopify by 11,435.0% during the second quarter. Laurel Wealth Advisors LLC now owns 29,991 shares of the software maker’s stock valued at $3,459,000 after purchasing an additional 29,731 shares during the period. Aviso Financial Inc. increased its holdings in Shopify by 11.8% in the 2nd quarter. Aviso Financial Inc. now owns 42,879 shares of the software maker’s stock valued at $4,945,000 after buying an additional 4,525 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Shopify by 34.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 51,565 shares of the software maker’s stock valued at $5,948,000 after buying an additional 13,119 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its holdings in shares of Shopify by 0.3% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 61,003 shares of the software maker’s stock worth $7,037,000 after acquiring an additional 176 shares during the period. Finally, Quadcap Wealth Management LLC boosted its position in shares of Shopify by 1.0% during the 2nd quarter. Quadcap Wealth Management LLC now owns 11,240 shares of the software maker’s stock valued at $1,297,000 after acquiring an additional 107 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

SHOP opened at $155.31 on Tuesday. The stock has a market capitalization of $202.19 billion, a P/E ratio of 115.04, a price-to-earnings-growth ratio of 5.46 and a beta of 2.73. The company’s 50 day simple moving average is $156.80 and its 200-day simple moving average is $134.63. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Shopify has set its Q4 2025 guidance at EPS. As a group, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $185.00 target price (up previously from $160.00) on shares of Shopify in a research note on Tuesday, November 4th. JPMorgan Chase & Co. upped their price objective on Shopify from $179.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. National Bankshares increased their target price on Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. DA Davidson raised their target price on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Truist Financial set a $155.00 price target on Shopify and gave the company a “hold” rating in a research note on Tuesday, November 4th. Twenty-two analysts have rated the stock with a Buy rating and twenty-four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $163.89.

Shopify 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.