Royal Fund Management LLC Purchases 4,557 Shares of Shopify Inc. $SHOP

Royal Fund Management LLC grew its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 257.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,326 shares of the software maker’s stock after purchasing an additional 4,557 shares during the quarter. Royal Fund Management LLC’s holdings in Shopify were worth $750,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SHOP. Kingdom Financial Group LLC. bought a new stake in shares of Shopify in the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new position in shares of Shopify in the fourth quarter valued at about $27,000. Evolution Wealth Management Inc. increased its position in Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock worth $27,000 after acquiring an additional 155 shares during the period. Graney & King LLC bought a new position in Shopify during the first quarter worth about $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shopify in the 4th quarter worth about $29,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP opened at $122.40 on Friday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The firm has a market cap of $158.83 billion, a price-to-earnings ratio of 121.19, a PEG ratio of 2.79 and a beta of 2.58. The business’s fifty day moving average is $116.30 and its 200-day moving average is $120.70.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Bank of America started coverage on shares of Shopify in a report on Tuesday, July 7th. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Research raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Stifel Nicolaus set a $150.00 price target on shares of Shopify and gave the company a “buy” rating in a research report on Thursday, July 9th. National Bank Financial set a $155.00 price target on Shopify and gave the company an “outperform” rating in a research note on Monday, July 20th. Finally, DA Davidson cut their price target on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.69.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Analysts expect Shopify to post another earnings beat, citing favorable earnings-estimate revisions and momentum indicators. The outlook could support the stock if results and guidance exceed expectations. Shopify Earnings Expected to Grow
• Positive Sentiment: Commentary comparing Shopify with Meta Platforms argues that Shopify’s AI tools cover merchant operations, product discovery and checkout, positioning the company to benefit as AI-generated traffic and orders increase. Shopify vs. Meta Platforms
• Positive Sentiment: Shopify was included among software stocks benefiting from lower Treasury yields and renewed investor interest in enterprise software and the AI investment cycle. This provides a favorable broader-market backdrop for SHOP. Zscaler, Shopify, and PTC Shares
• Positive Sentiment: Shopify’s ecosystem continues to expand, with Velocity Commerce receiving the company’s “Built for Shopify” designation and Marmeto becoming a Shopify Platinum Partner. These developments reinforce platform quality, app adoption and partner support, though they are unlikely to materially change near-term revenue. Velocity Commerce Built for Shopify

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.