Mitsubishi UFJ Trust & Banking Corp Sells 302,459 Shares of Shopify Inc. $SHOP

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 37.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 514,631 shares of the software maker’s stock after selling 302,459 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Shopify were worth $59,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Shopify during the 1st quarter valued at $667,392,000. Jennison Associates LLC increased its position in Shopify by 118.1% in the 2nd quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock valued at $1,328,787,000 after acquiring an additional 6,238,829 shares during the period. ProShare Advisors LLC acquired a new stake in Shopify in the second quarter valued at $191,369,000. Canada Pension Plan Investment Board lifted its holdings in Shopify by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock worth $565,504,000 after buying an additional 1,522,573 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after buying an additional 1,426,406 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Shopify from $155.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $180.00 price target on shares of Shopify in a research note on Wednesday, November 5th. TD Securities lifted their price objective on shares of Shopify from $130.00 to $156.00 and gave the company a “hold” rating in a research note on Friday, October 3rd. Finally, BMO Capital Markets boosted their price objective on Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twenty-three have given a Hold rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $163.89.

Shopify Stock Performance

NASDAQ:SHOP opened at $156.59 on Thursday. The firm has a market cap of $203.51 billion, a price-to-earnings ratio of 115.99, a price-to-earnings-growth ratio of 5.87 and a beta of 2.73. The firm has a 50-day moving average price of $156.67 and a two-hundred day moving average price of $131.61. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Shopify has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify 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.