ProShare Advisors LLC Makes New Investment in Shopify Inc. $SHOP

ProShare Advisors LLC purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, Holdings Channel.com reports. The fund purchased 1,659,028 shares of the software maker’s stock, valued at approximately $191,369,000.

A number of other hedge funds also recently added to or reduced their stakes in SHOP. Prosperity Consulting Group LLC boosted its stake in shares of Shopify by 1.5% during the 2nd quarter. Prosperity Consulting Group LLC now owns 6,011 shares of the software maker’s stock worth $693,000 after acquiring an additional 90 shares in the last quarter. Hummer Financial Advisory Services Inc raised its holdings in Shopify by 3.8% during the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock worth $299,000 after purchasing an additional 95 shares during the last quarter. SouthState Corp raised its holdings in Shopify by 3.7% during the second quarter. SouthState Corp now owns 2,768 shares of the software maker’s stock worth $319,000 after purchasing an additional 99 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in Shopify by 16.7% during the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock worth $81,000 after purchasing an additional 100 shares in the last quarter. Finally, Moseley Investment Management Inc. boosted its position in Shopify by 2.8% during the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock worth $424,000 after purchasing an additional 100 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research analyst reports. Citigroup raised their price target on Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Zacks Research raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada upped their price target on shares of Shopify from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Scotiabank upped their price objective on Shopify from $150.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 5th. Finally, Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective (up previously from $180.00) on shares of Shopify in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twenty-three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.89.

Shopify Price Performance

NASDAQ SHOP opened at $152.41 on Monday. The company has a market cap of $198.08 billion, a P/E ratio of 112.90, a P/E/G ratio of 5.70 and a beta of 2.73. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The company has a 50-day moving average of $155.59 and a 200-day moving average of $130.55.

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

About Shopify

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.