Gibbs Wealth Management Has $4.11 Million Holdings in Shopify Inc. $SHOP

Gibbs Wealth Management lifted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 32.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,606 shares of the software maker’s stock after buying an additional 8,384 shares during the quarter. Gibbs Wealth Management’s holdings in Shopify were worth $4,105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after purchasing an additional 743,803 shares in the last quarter. Norges Bank acquired a new stake in Shopify in the 4th quarter valued at $2,611,797,000. Invesco Ltd. increased its stake in Shopify by 9.8% during the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares in the last quarter. Geode Capital Management LLC increased its stake in Shopify by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Shopify by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock worth $1,627,352,000 after buying an additional 827,643 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP stock opened at $112.00 on Friday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The company has a 50-day simple moving average of $114.12 and a two-hundred day simple moving average of $122.19. The company has a market capitalization of $145.34 billion, a price-to-earnings ratio of 110.89, a PEG ratio of 2.55 and a beta of 2.58.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHOP. Oppenheimer reiterated an “outperform” rating and set a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $180.00 target price on shares of Shopify in a report on Tuesday, May 5th. Citigroup cut shares of Shopify from a “market outperform” rating to a “neutral” rating in a research report on Friday, July 10th. UBS Group reiterated a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Finally, Susquehanna began coverage on Shopify in a report on Friday, July 10th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.86.

Trending Headlines about Shopify

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)

Shopify 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.