Shopify Inc. $SHOP Shares Sold by WD Rutherford LLC

WD Rutherford LLC cut its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 48.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,794 shares of the software maker’s stock after selling 5,347 shares during the period. WD Rutherford LLC’s holdings in Shopify were worth $859,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC raised its position in Shopify by 8.4% during the third quarter. Park Avenue Securities LLC now owns 41,556 shares of the software maker’s stock valued at $6,163,000 after acquiring an additional 3,237 shares in the last quarter. Segment Wealth Management LLC lifted its stake in Shopify by 2.2% in the third quarter. Segment Wealth Management LLC now owns 6,146 shares of the software maker’s stock valued at $911,000 after acquiring an additional 133 shares during the last quarter. Maxi Investments CY Ltd bought a new stake in Shopify in the third quarter worth approximately $1,483,000. Total Wealth Planning & Management Inc. grew its position in Shopify by 10.9% in the third quarter. Total Wealth Planning & Management Inc. now owns 2,277 shares of the software maker’s stock worth $338,000 after acquiring an additional 223 shares in the last quarter. Finally, Brucke Financial Inc. grew its position in Shopify by 3.2% in the third quarter. Brucke Financial Inc. now owns 2,806 shares of the software maker’s stock worth $416,000 after acquiring an additional 86 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a research note on Monday, July 13th. UBS Group reaffirmed a “neutral” rating and issued a $145.00 price objective (up from $130.00) on shares of Shopify in a research note on Thursday, August 6th. Cantor Fitzgerald upped their price objective on shares of Shopify from $145.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, October 12th. Barclays set a $145.00 price objective on shares of Shopify and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Finally, Seaport Research Partners reissued a “buy” rating and set a $180.00 target price on shares of Shopify in a research report on Thursday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.79.

Shopify Stock Down 1.4%

Shares of Shopify stock opened at $165.81 on Wednesday. The stock has a 50 day moving average price of $151.73 and a two-hundred day moving average price of $130.30. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $3.58 billion for the quarter. During the same quarter in the previous year, the business posted $0.69 EPS. The firm’s revenue was up 33.7% on a year-over-year basis. On average, analysts predict that Shopify Inc. will post 1.46 EPS for the current fiscal year.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Citigroup raised its price target from $196 to $216 and maintained a “buy” rating, implying substantial upside from current levels. The upgrade provides a positive catalyst and signals confidence in Shopify’s growth outlook. Citigroup Shopify price target
• Positive Sentiment: Analysts are positioning for Shopify to deliver earnings growth and potentially beat estimates in its upcoming report. Expectations are supported by the company’s continued revenue expansion and operating performance, although a strong result may already be reflected in the share price. Shopify earnings expected to grow
• Neutral Sentiment: Seasonal holiday-shopping preparation could support third-quarter results, as retailers typically increase activity and spending ahead of the holiday period. However, the benefit could be offset by Shopify’s elevated valuation and continued investment in artificial intelligence. Shopify stock before November 3
• Neutral Sentiment: Reported October short-interest data showed zero shares and a zero-day short-interest ratio, an apparent data inconsistency that offers little reliable insight into trading pressure.
• Negative Sentiment: Valuation concerns are weighing on sentiment. Commentary argues Shopify has not fully grown into its premium multiple after a sharp recent rally, while a prior analyst downgrade and profit-taking risk may be contributing to the pullback. Shopify valuation concerns

Shopify Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.