Shopify Inc. $SHOP Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.7% during the third quarter, Holdings Channel.com reports. The fund owned 9,133,454 shares of the software maker’s stock after selling 158,031 shares during the period. Shopify accounts for approximately 1.6% of Mackenzie Financial Corp’s holdings, making the stock its 10th biggest holding. Mackenzie Financial Corp’s holdings in Shopify were worth $1,356,633,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Heartwood Wealth Advisors LLC acquired a new stake in Shopify in the 3rd quarter worth approximately $27,000. Rothschild Investment LLC increased its stake in Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in Shopify during the 2nd quarter valued at approximately $27,000. Caitlin John LLC purchased a new position in shares of Shopify in the third quarter worth $36,000. Finally, Estabrook Capital Management purchased a new position in shares of Shopify in the second quarter worth $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

NASDAQ SHOP opened at $129.36 on Wednesday. The firm has a market capitalization of $168.41 billion, a P/E ratio of 139.10, a PEG ratio of 4.79 and a beta of 2.83. The stock has a 50-day simple moving average of $135.92 and a two-hundred day simple moving average of $149.03. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify expanded its partnership with Klaviyo to add Locale Aware Catalogs and deeper interoperability, making it easier for global merchants to manage translated content, regional pricing and market-specific URLs — a move that can reduce merchant friction and help Shopify win/retain larger cross-border brands. Klaviyo, Shopify deepen product integration
• Positive Sentiment: Brokerage coverage is constructive overall: analyst consensus compiled by some outlets shows a “Moderate Buy” skew, which supports continued investor interest and institutional demand over time. Shopify Inc. Receives Consensus Rating of “Moderate Buy”
• Neutral Sentiment: Jefferies raised its price target on SHOP from $125 to $150 but kept a “hold” rating — the higher target signals better medium-term upside, yet the lack of an upgrade tempers near-term enthusiasm. Benzinga
• Neutral Sentiment: Shopify has been a trending/most-searched stock on Zacks and other financial sites; articles touting SHOP as a long-term pick and a trending ticker can increase retail attention but are not immediate revenue catalysts. Here is What to Know Beyond Why Shopify Inc. (SHOP) is a Trending Stock
• Negative Sentiment: Technicals and intra-day trading pressure: the stock is trading below its 50-day and 200-day moving averages, on lighter-than-normal volume, which suggests profit-taking and technical selling dominated today despite positive product and analyst news. (Background: SHOP has a 50-day SMA of $136.61 and a 200-day SMA of $149.12.)

Analyst Upgrades and Downgrades

Several research firms have recently commented on SHOP. Scotiabank upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $165.00 to $200.00 in a research note on Thursday, January 8th. Barclays set a $130.00 target price on Shopify and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Oppenheimer reiterated an “outperform” rating on shares of Shopify in a research note on Monday, December 1st. Finally, Mizuho raised Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price objective on the stock in a report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $163.33.

About Shopify

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.