Bell Bank Makes New Investment in Shopify Inc. $SHOP

Bell Bank bought a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,496 shares of the software maker’s stock, valued at approximately $667,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOP. The Manufacturers Life Insurance Company raised its position in Shopify by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock worth $998,137,000 after acquiring an additional 660,198 shares during the period. Swiss National Bank raised its holdings in Shopify by 27.0% in the 1st quarter. Swiss National Bank now owns 4,115,300 shares of the software maker’s stock worth $487,580,000 after purchasing an additional 876,100 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Shopify by 4.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,678,602 shares of the software maker’s stock worth $436,356,000 after purchasing an additional 145,500 shares during the period. Bank of New York Mellon Corp lifted its position in Shopify by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 3,495,964 shares of the software maker’s stock valued at $414,691,000 after purchasing an additional 159,873 shares in the last quarter. Finally, Amova Asset Management Americas Inc. lifted its position in Shopify by 5.0% during the first quarter. Amova Asset Management Americas Inc. now owns 3,458,265 shares of the software maker’s stock valued at $410,219,000 after purchasing an additional 165,080 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHOP. UBS Group reiterated a “neutral” rating and set a $145.00 price objective (up from $130.00) on shares of Shopify in a research report on Thursday, August 6th. BTIG Research initiated coverage on shares of Shopify in a research report on Friday, July 10th. They set a “buy” rating for the company. Citizens Jmp upped their target price on shares of Shopify from $150.00 to $185.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Shopify in a research note on Wednesday, October 14th. Finally, BMO Capital Markets set a $165.00 target price on shares of Shopify and gave the company an “outperform” rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $175.89.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify received a Zacks Rank #1 (Strong Buy), reflecting rising earnings estimates and improving expectations for the company’s financial performance. Revenue is projected to grow approximately 31.5% this year. Zacks rating upgrade article
• Positive Sentiment: Analysts highlighted strong revenue prospects, expanding enterprise relationships with brands such as Dior and Clinique, and increasing adoption of Shopify’s AI tools. The company’s Platinum membership in the PyTorch Foundation further supports its positioning in AI-enabled commerce. Analyst upgrades article
• Positive Sentiment: Shopify is now supported by Vercel Shop’s open-source Next.js integration, enabling merchants to build customized AI storefronts with AI shopping-agent capabilities for product discovery and checkout. This could expand Shopify’s appeal to developers and larger merchants. Vercel Shop integration article
• Positive Sentiment: A new Shopify POS Smart Grid feature can recommend and optimize tiles using sales data and usage frequency, potentially improving merchant efficiency and product engagement. Shopify POS feature article
• Neutral Sentiment: Despite strong execution, AI momentum, and recent outperformance, commentary cautioned that Shopify’s roughly 35% monthly rally and premium valuation make the stock’s risk-reward balance more difficult, with investors weighing further gains against taking profits. Shopify rally valuation article

Shopify Price Performance

SHOP opened at $173.48 on Wednesday. The business has a fifty day moving average of $149.95 and a 200 day moving average of $129.12. Shopify Inc. has a 52-week low of $94.00 and a 52-week 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 has a market cap of $223.21 billion, a P/E ratio of 117.22, a PEG ratio of 3.53 and a beta of 2.62.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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. The company had revenue of $3.58 billion for the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.46 EPS for the current year.

Shopify Company 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.