Summit X LLC Acquires Shares of 1,847 Shopify Inc. $SHOP

Summit X LLC purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,847 shares of the software maker’s stock, valued at approximately $213,000.

Several other large investors have also recently made changes to their positions in SHOP. Prosperity Consulting Group LLC raised 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 buying an additional 90 shares during the period. Hummer Financial Advisory Services Inc lifted 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 valued at $299,000 after purchasing an additional 95 shares in the last quarter. SouthState Corp grew its position in shares of Shopify by 3.7% in the second quarter. SouthState Corp now owns 2,768 shares of the software maker’s stock valued at $319,000 after purchasing an additional 99 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of 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. raised its position in shares of Shopify by 2.8% during the 2nd 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 during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHOP. Canaccord Genuity Group upped their target price on shares of Shopify from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Barclays set a $140.00 price target on Shopify and gave the company an “equal weight” rating in a research report on Wednesday. Evercore ISI increased their price target on shares of Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Oppenheimer restated an “outperform” rating and issued a $200.00 target price (up previously from $180.00) on shares of Shopify in a research report on Tuesday, October 28th. Finally, Stifel Nicolaus set a $175.00 target price on shares of Shopify in a research report on Tuesday, November 4th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.89.

Shopify Price Performance

SHOP stock opened at $152.41 on Monday. The business’s 50-day moving average is $155.59 and its two-hundred day moving average is $130.55. The firm has a market capitalization 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 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, topping 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 company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. On average, analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Shopify Company 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.