O Neil Global Advisors Inc. Has $6.35 Million Position in Shopify Inc. $SHOP

O Neil Global Advisors Inc. lowered its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 20.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,695 shares of the software maker’s stock after selling 10,824 shares during the quarter. Shopify accounts for about 1.2% of O Neil Global Advisors Inc.’s investment portfolio, making the stock its 15th biggest position. O Neil Global Advisors Inc.’s holdings in Shopify were worth $6,345,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Shopify during the second quarter valued at approximately $1,794,952,000. Jennison Associates LLC lifted its position in shares of Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after buying an additional 7,403,821 shares during the period. Brown Advisory Inc. lifted its position in shares of Shopify by 5,193.6% during the 2nd quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock worth $238,419,000 after buying an additional 2,027,839 shares during the period. Geode Capital Management LLC lifted its position in shares of Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after buying an additional 1,781,530 shares during the period. Finally, Picton Mahoney Asset Management boosted its stake in Shopify by 246,359.0% in the 2nd quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker’s stock valued at $202,146,000 after buying an additional 1,759,003 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SHOP. Arete Research set a $175.00 price objective on Shopify in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $175.00 target price on shares of Shopify in a report on Thursday, February 12th. DZ Bank raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Citigroup reissued a “buy” rating and set a $172.00 price target (down from $195.00) on shares of Shopify in a report on Friday, February 13th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Shopify in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $162.64.

Shopify Stock Performance

Shares of SHOP opened at $126.20 on Monday. The firm has a market capitalization of $164.29 billion, a price-to-earnings ratio of 135.70, a PEG ratio of 4.60 and a beta of 2.83. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The business’s fifty day moving average price is $145.96 and its two-hundred day moving average price is $150.66.

Shopify Company 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.