Shopify Inc. $SHOP is Connor Clark & Lunn Investment Management Ltd.’s 3rd Largest Position

Connor Clark & Lunn Investment Management Ltd. decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,375,619 shares of the software maker’s stock after selling 227,145 shares during the quarter. Shopify comprises about 2.6% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 3rd largest position. Connor Clark & Lunn Investment Management Ltd. owned 0.49% of Shopify worth $735,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify during the second quarter worth about $25,000. Tradewinds Capital Management LLC boosted its position in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Coastline Trust Co purchased a new stake in Shopify in the 2nd quarter worth approximately $29,000. Smithfield Trust Co raised its holdings in Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after acquiring an additional 188 shares during the last quarter. Finally, Dagco Inc. purchased a new position in shares of Shopify during the 1st quarter worth $30,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $152.41 on Friday. The stock has a 50-day simple moving average of $155.59 and a 200-day simple moving average of $130.28. The stock has a market capitalization of $198.08 billion, a P/E ratio of 112.90, a PEG ratio of 5.71 and a beta of 2.73. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS 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 firm 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. Analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of recent analyst reports. Arete Research raised Shopify to a “hold” rating in a research report on Wednesday, July 23rd. Mizuho raised their price target on Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Bank of America upped their price objective on shares of Shopify from $110.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Benchmark reiterated a “buy” rating on shares of Shopify in a report on Wednesday. Finally, TD Cowen restated a “hold” rating and issued a $156.00 target price on shares of Shopify in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twenty-three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.89.

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.