Sequoia Financial Advisors LLC Sells 8,947 Shares of Shopify Inc. $SHOP

Sequoia Financial Advisors LLC decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 29.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,652 shares of the software maker’s stock after selling 8,947 shares during the period. Sequoia Financial Advisors LLC’s holdings in Shopify were worth $2,472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van Hulzen Asset Management LLC grew its holdings in Shopify by 42.0% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 4,190 shares of the software maker’s stock worth $478,000 after acquiring an additional 1,240 shares during the period. IPG Investment Advisors LLC acquired a new position in shares of Shopify in the 2nd quarter valued at about $534,000. MCF Advisors LLC boosted its position in shares of Shopify by 43.8% during the 2nd quarter. MCF Advisors LLC now owns 6,224 shares of the software maker’s stock valued at $711,000 after purchasing an additional 1,895 shares in the last quarter. NorthRock Partners LLC boosted its position in shares of Shopify by 2.0% during the 2nd quarter. NorthRock Partners LLC now owns 5,673 shares of the software maker’s stock valued at $648,000 after purchasing an additional 112 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in Shopify by 14.2% during the second quarter. Integrated Wealth Concepts LLC now owns 53,470 shares of the software maker’s stock worth $6,105,000 after purchasing an additional 6,635 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Bernstein starts coverage at Outperform: Bernstein initiated coverage with a $160 price target, implying more than 26% upside from Thursday’s close. The firm said Shopify is well positioned to lead innovation in commerce, supporting the stock’s premarket strength. Shopify Shares Rise 2.5% as Bernstein Starts Coverage at Outperform
• Positive Sentiment: Operating leverage and AI-commerce potential: StoneX highlighted that Shopify’s headcount has remained flat for more than eight quarters while revenue grew roughly 34%, suggesting improving efficiency. Analysts also view Shopify’s AI commerce initiatives as a potential growth driver rather than an immediate threat. StoneX Backs Shopify on Agent Commerce Data
• Positive Sentiment: Expansion of merchant services: Analysts remain constructive after Shopify’s reported 34% revenue growth, strong gross merchandise volume and $654 million in free cash flow. The planned expansion of Shop Pay Installments into Australia and the addition of Tailwind Labs’ team could strengthen Shopify’s merchant ecosystem and custom-storefront capabilities. Shopify: Buy The Affirm Australia Expansion, But Do Not Chase Blindly
• Neutral Sentiment: Recent selloff leaves technical and valuation questions: SHOP recently fell below a key technical level and remains below its 50-day moving average, although it is above its 200-day average. With a price-to-earnings ratio near 87, investors may be reluctant to chase the rebound despite the bullish $160 target. Turn Shopify Stock Sell-Off Into A Profit Opportunity With This Spread Strategy
• Negative Sentiment: AI-agent competition remains a concern: The launch of consumer AI agents from companies including Meta has weighed on confidence in Shopify, contributing to a sharp recent decline. The bullish view is that these agents may ultimately drive more commerce through Shopify’s infrastructure, but that thesis is not yet proven. Why Meta’s Consumer AI Agent Is Good News for Shopify Stock

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SHOP shares. Truist Financial set a $180.00 target price on Shopify and gave the stock a “buy” rating in a report on Wednesday, August 5th. Seaport Research Partners reiterated a “buy” rating and issued a $175.00 price objective on shares of Shopify in a research note on Monday, August 17th. Wells Fargo & Company reissued an “overweight” rating and set a $180.00 target price (up from $144.00) on shares of Shopify in a research note on Friday, August 7th. Evercore restated an “outperform” rating and issued a $175.00 price target (up from $135.00) on shares of Shopify in a report on Wednesday, August 5th. Finally, Zacks Research cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $171.34.

Shopify Price Performance

SHOP stock opened at $128.79 on Monday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $135.65 and its 200-day moving average is $123.18. The firm has a market capitalization of $165.71 billion, a PE ratio of 87.02, a P/E/G ratio of 2.63 and a beta of 2.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The business had revenue of $3.58 billion during the quarter. During the same quarter last year, the company posted $0.69 EPS. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. Sell-side analysts expect that Shopify Inc. will post 1.45 EPS for the current fiscal year.

Shopify Profile

Shopify Inc (NASDAQ:SHOP) is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow retail operations. Its platform enables merchants to create and manage online stores, sell through social media and other digital channels, and support in-person sales through Shopify’s point-of-sale solutions.

Shopify’s products and services include online storefront and website-building tools, payment processing through Shopify Payments, point-of-sale hardware and software, inventory and order management, shipping and fulfillment tools, marketing features, analytics, and financing services for eligible merchants.