Shopify Inc. $SHOP Position Lessened by Riverpark Capital Management LLC

Riverpark Capital Management LLC lessened its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 28.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,941 shares of the software maker’s stock after selling 5,118 shares during the quarter. Shopify makes up 3.5% of Riverpark Capital Management LLC’s portfolio, making the stock its 8th biggest position. Riverpark Capital Management LLC’s holdings in Shopify were worth $1,923,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Heartwood Wealth Advisors LLC purchased a new position in shares of Shopify during the third quarter valued at about $27,000. Rothschild Investment LLC lifted its holdings in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares during the period. Financial Gravity Companies Inc. bought a new position in shares of Shopify in the 2nd quarter worth approximately $27,000. Caitlin John LLC purchased a new stake in Shopify in the third quarter worth $36,000. Finally, Estabrook Capital Management purchased a new stake in Shopify in the second quarter worth $29,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent research reports. BNP Paribas Exane assumed coverage on Shopify in a research report on Monday, November 24th. They set a “neutral” rating for the company. Canaccord Genuity Group set a $165.00 price target on shares of Shopify and gave the stock a “buy” rating in a research note on Thursday, February 12th. Wedbush lowered their price target on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $175.00 price objective on shares of Shopify in a research note on Thursday, February 12th. Finally, Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the stock a “hold” rating in a report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.33.

Shopify Stock Performance

NASDAQ SHOP opened at $129.36 on Wednesday. The stock has a 50-day moving average of $135.92 and a 200 day moving average of $149.03. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19. The company has a market capitalization of $168.41 billion, a price-to-earnings ratio of 139.10, a PEG ratio of 4.79 and a beta of 2.83.

Trending Headlines about Shopify

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.)

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.