Employees Retirement System of Texas Has $8.51 Million Stock Position in Shopify Inc. $SHOP

Employees Retirement System of Texas decreased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,749 shares of the software maker’s stock after selling 6,669 shares during the period. Employees Retirement System of Texas’ holdings in Shopify were worth $8,507,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new position in Shopify in the 2nd quarter valued at approximately $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Shopify in the second quarter valued at about $27,000. Rothschild Investment LLC raised its position in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the period. Finally, Coastline Trust Co acquired a new position in shares of Shopify in the second quarter worth approximately $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 1.3%

Shares of NASDAQ SHOP opened at $159.34 on Thursday. The firm has a market capitalization of $207.44 billion, a P/E ratio of 118.03, a P/E/G ratio of 5.81 and a beta of 2.73. The firm’s 50-day moving average price is $157.23 and its 200-day moving average price is $135.26. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. Equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SHOP. DA Davidson increased their target price on shares of Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $180.00 price objective on shares of Shopify in a research report on Wednesday, November 5th. Oppenheimer restated an “outperform” rating and issued a $200.00 target price (up previously from $180.00) on shares of Shopify in a report on Tuesday, October 28th. The Goldman Sachs Group increased their price target on Shopify from $120.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Zacks Research downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Twenty-two research analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the company. Based on data from MarketBeat, Shopify has a consensus rating of “Hold” and a consensus target price of $165.69.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.