Malaga Cove Capital LLC Sells 7,219 Shares of Shopify Inc. $SHOP

Malaga Cove Capital LLC reduced its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 32.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,307 shares of the software maker’s stock after selling 7,219 shares during the quarter. Malaga Cove Capital LLC’s holdings in Shopify were worth $1,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC boosted its holdings 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 buying an additional 90 shares during the period. Hummer Financial Advisory Services Inc lifted its position in Shopify by 3.8% during the 2nd quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock worth $299,000 after acquiring an additional 95 shares during the last quarter. SouthState Corp lifted its position in Shopify by 3.7% during the 2nd quarter. SouthState Corp now owns 2,768 shares of the software maker’s stock worth $319,000 after acquiring an additional 99 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in Shopify by 16.7% during the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock valued at $81,000 after acquiring an additional 100 shares during the period. Finally, Moseley Investment Management Inc. grew its position in shares of Shopify by 2.8% in the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock valued at $424,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP stock opened at $156.05 on Friday. The firm has a fifty day moving average of $155.37 and a 200-day moving average of $129.48. The stock has a market cap of $202.81 billion, a price-to-earnings ratio of 115.59, a P/E/G ratio of 6.81 and a beta of 2.73. 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 earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. On average, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SHOP. Evercore ISI increased their target price on Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Phillip Securities cut Shopify from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 12th. CIBC restated an “outperform” rating on shares of Shopify in a research note on Wednesday. Barclays set a $140.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Stifel Nicolaus set a $175.00 price objective on shares of Shopify in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $163.89.

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.