Infusive Asset Management Inc. Purchases 9,374 Shares of Shopify Inc. $SHOP

Infusive Asset Management Inc. grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 27.4% in the first quarter, HoldingsChannel reports. The fund owned 43,611 shares of the software maker’s stock after acquiring an additional 9,374 shares during the period. Shopify makes up 2.5% of Infusive Asset Management Inc.’s portfolio, making the stock its 16th largest position. Infusive Asset Management Inc.’s holdings in Shopify were worth $5,173,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SHOP. Brighton Jones LLC raised its holdings in shares of Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after purchasing an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC grew its position in Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after purchasing an additional 506 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in Shopify in the second quarter valued at $53,000. Finally, Main Street Financial Solutions LLC increased its stake in Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after buying an additional 1,479 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Down 5.4%

SHOP opened at $112.00 on Friday. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The business has a 50 day moving average of $114.12 and a 200-day moving average of $122.19. The stock has a market cap of $145.34 billion, a price-to-earnings ratio of 110.89, a PEG ratio of 2.55 and a beta of 2.58.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Several recent articles highlighted Shopify’s strong growth profile, pointing to its ability to generate exceptional returns and calling it attractive for growth investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Positive Sentiment: Analyst coverage remained upbeat overall, with reports saying Wall Street sees Shopify as a buy and consensus price targets implying meaningful upside from current levels. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Another analyst-focused piece said Shopify could surge about 27.9% based on consensus estimates, suggesting expectations for continued earnings momentum. Wall Street Analysts Think Shopify (SHOP) Could Surge 27.88%: Read This Before Placing a Bet
• Neutral Sentiment: Shopify ecosystem news remained constructive, as OneMagnify earned Premier Partner status, which underscores ongoing platform adoption and partner activity. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Negative Sentiment: Offsetting the bullish commentary, Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though its new price target still implies upside. Zacks.com
• Negative Sentiment: Separate coverage noted unusually high options volume and an earlier session where Shopify lagged the broader market, suggesting traders have been active and cautious around the stock. Shopify Sees Unusually High Options Volume (NASDAQ:SHOP)

Wall Street Analyst Weigh In

Several brokerages have commented on SHOP. Zacks Research raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Morgan Stanley lowered Shopify from an “overweight” rating to a “buy” rating in a report on Monday, July 13th. Wells Fargo & Company decreased their price target on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Citigroup lowered Shopify from a “market outperform” rating to a “neutral” rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Shopify in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $157.86.

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.