Vise Technologies Inc. Acquires 9,854 Shares of Shopify Inc. $SHOP

Vise Technologies Inc. lifted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 30.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 42,255 shares of the software maker’s stock after acquiring an additional 9,854 shares during the quarter. Vise Technologies Inc.’s holdings in Shopify were worth $6,266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHOP. Norris Financial Group LLC purchased a new position in shares of Shopify in the 1st quarter valued at $1,586,000. Infusive Asset Management Inc. raised its position in shares of Shopify by 27.4% in the 1st quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker’s stock worth $5,173,000 after acquiring an additional 9,374 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of Shopify by 18.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock worth $6,876,000 after purchasing an additional 9,096 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Shopify during the 2nd quarter worth $29,027,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Shopify by 8.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock worth $998,137,000 after purchasing an additional 660,198 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the topic of several analyst reports. Truist Financial set a $180.00 target price on Shopify and gave the company a “buy” rating in a research note on Wednesday, August 5th. KeyCorp increased their price target on shares of Shopify from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday. BTIG Research assumed coverage on shares of Shopify in a report on Friday, July 10th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Shopify from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wedbush reiterated an “outperform” rating and set a $176.00 price objective on shares of Shopify in a research note on Wednesday, September 23rd. Three analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average price target of $178.44.

Shopify Stock Down 0.8%

Shopify stock opened at $156.22 on Tuesday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $180.88. The business has a fifty day moving average price of $152.91 and a 200-day moving average price of $130.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. The stock has a market capitalization of $201.00 billion, a price-to-earnings ratio of 105.55, a PEG ratio of 3.47 and a beta of 2.62.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%. The company had revenue of $3.58 billion for the quarter. During the same period in the prior year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Equities research analysts forecast that Shopify Inc. will post 1.46 EPS for the current fiscal year.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s recent performance has been driven by strong operating growth: quarterly revenue increased roughly 34% year over year to $3.58 billion, while earnings modestly exceeded analyst expectations. A Zacks analysis also identified SHOP as one of several internet stocks with a favorable probability of beating estimates. 4 Internet Stocks Poised to Top Estimates This Earnings Season
• Positive Sentiment: Analysts expect continued momentum from gross merchandise volume, greater adoption of Shopify Payments and artificial-intelligence features. KeyCorp raised its price target from $180 to $185 and maintained an “overweight” rating, implying additional upside from the referenced price level. KeyCorp Shopify price-target update
• Positive Sentiment: CEO Tobi Lütke said Shop Pay has approximately 400 million users and is expanding into AI-agent transactions and merchants outside Shopify’s platform. Investors may view those developments as expanding Shopify’s long-term payments and commerce opportunity, although the initiatives are not expected to materially affect the upcoming quarter. Shopify Shop Pay users and AI expansion
• Neutral Sentiment: Shopify is scheduled to report earnings before the bell on Nov. 3. Investors will focus on revenue, GMV, payments growth, guidance and whether profitability can justify the stock’s elevated valuation. Shopify earnings preview
• Negative Sentiment: At roughly 75 times forward earnings, Shopify remains expensive, and analysts have flagged potential margin pressure. Six large funds reduced or eliminated their positions through June 30, creating a cautionary signal despite the subsequent rally. Funds selling Shopify before earnings

Shopify Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.