Ampersand Capital Group L.P. Buys 15,000 Shares of Shopify Inc. $SHOP

Ampersand Capital Group L.P. raised its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,763 shares of the software maker’s stock after acquiring an additional 15,000 shares during the quarter. Shopify makes up 13.0% of Ampersand Capital Group L.P.’s portfolio, making the stock its 4th biggest position. Ampersand Capital Group L.P.’s holdings in Shopify were worth $23,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SHOP. SummitTX Capital L.P. boosted its holdings in Shopify by 115.5% in the first quarter. SummitTX Capital L.P. now owns 15,410 shares of the software maker’s stock worth $1,828,000 after purchasing an additional 8,260 shares during the period. Lazard Asset Management LLC increased its stake in Shopify by 140.6% during the first quarter. Lazard Asset Management LLC now owns 417,786 shares of the software maker’s stock valued at $49,582,000 after purchasing an additional 244,125 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new stake in shares of Shopify during the first quarter worth $89,000. Insight Holdings Group LLC raised its holdings in shares of Shopify by 231.8% during the first quarter. Insight Holdings Group LLC now owns 94,660 shares of the software maker’s stock worth $11,229,000 after purchasing an additional 66,130 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Shopify by 18.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock worth $6,876,000 after buying an additional 9,096 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research reports. Susquehanna began coverage on shares of Shopify in a report on Friday, July 10th. They issued a “neutral” rating for the company. Rothschild & Co Redburn set a $130.00 price objective on shares of Shopify and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Jefferies Financial Group upgraded Shopify from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $160.00 in a research report on Sunday, July 12th. Weiss Ratings downgraded Shopify from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of Shopify in a report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $157.69.

Shopify Price Performance

Shares of SHOP stock opened at $113.75 on Monday. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The firm has a market capitalization of $147.61 billion, a price-to-earnings ratio of 112.62, a price-to-earnings-growth ratio of 2.45 and a beta of 2.58. The business has a 50 day simple moving average of $114.39 and a 200 day simple moving average of $121.82.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Citigroup lowered its price target on Shopify to $150 from $156 but kept a Buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Several analyst-focused articles highlighted Shopify as a buy and pointed to roughly 28% upside based on consensus price targets, which can support sentiment around the stock. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Growth-oriented coverage continued to argue that Shopify’s strong fundamentals and growth profile could make it attractive for long-term investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Neutral Sentiment: Reports about Shopify merchants processing record GMV and the broader merchant ecosystem underscore platform momentum, but they were more of an industry/operating backdrop than a direct stock-moving announcement. DSCP Smart Fulfillment Addresses Critical Gap as Shopify Merchants Process Record $378 Billion in Annual Sales
• Negative Sentiment: Rothschild & Co Redburn cut Shopify to Hold, a downgrade that likely pressured the shares and signaled more caution on the stock’s near-term upside. Shopify (NASDAQ:SHOP) Cut to “Hold” at Rothschild & Co Redburn

Shopify 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.