20,515 Shares in Shopify Inc. $SHOP Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,515 shares of the software maker’s stock, valued at approximately $2,433,000.

Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in shares of Shopify by 37.1% in the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock worth $13,051,000 after acquiring an additional 21,945 shares during the last quarter. Triasima Portfolio Management inc. lifted its position in shares of Shopify by 11.0% in the fourth quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock valued at $29,398,000 after acquiring an additional 18,028 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Shopify by 6.7% during the fourth quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after acquiring an additional 13,415 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Shopify by 12.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock valued at $84,689,000 after acquiring an additional 59,745 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Shopify by 6.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,892,833 shares of the software maker’s stock valued at $948,569,000 after acquiring an additional 356,008 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

More Shopify News

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 Stock Performance

Shopify stock opened at $113.75 on Monday. The firm has a market capitalization of $147.61 billion, a P/E ratio of 112.62, a PEG ratio of 2.45 and a beta of 2.58. The stock has a fifty day moving average price of $114.39 and a 200 day moving average price of $121.82. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19.

Wall Street Analyst Weigh In

SHOP has been the subject of several analyst reports. National Bank Financial set a $155.00 target price on shares of Shopify and gave the company an “outperform” rating in a research note on Monday, July 20th. Susquehanna started coverage on shares of Shopify in a research note on Friday, July 10th. They set a “neutral” rating on the stock. Weiss Ratings cut shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Citigroup lowered their price target on shares of Shopify from $156.00 to $150.00 and set a “buy” rating for the company in a report on Friday. Finally, Rothschild & Co Redburn set a $130.00 price objective on shares of Shopify and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.