Bank of New York Mellon Corp Has $537.01 Million Stock Holdings in Shopify Inc. $SHOP

Bank of New York Mellon Corp trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,336,091 shares of the software maker’s stock after selling 140,714 shares during the period. Bank of New York Mellon Corp’s holdings in Shopify were worth $537,011,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Dynasty Wealth Management LLC raised its position in shares of Shopify by 4.2% in the 4th quarter. Dynasty Wealth Management LLC now owns 16,124 shares of the software maker’s stock valued at $2,595,000 after acquiring an additional 643 shares during the period. Natixis Advisors LLC raised its position in shares of Shopify by 7.2% in the 4th quarter. Natixis Advisors LLC now owns 1,586,104 shares of the software maker’s stock valued at $255,315,000 after acquiring an additional 107,057 shares during the period. Root Financial Partners LLC raised its position in shares of Shopify by 49.9% in the 4th quarter. Root Financial Partners LLC now owns 4,657 shares of the software maker’s stock valued at $750,000 after acquiring an additional 1,550 shares during the period. One Capital Management LLC acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $550,000. Finally, BNP Paribas raised its position in shares of Shopify by 74.2% in the 4th quarter. BNP Paribas now owns 9,490 shares of the software maker’s stock valued at $1,528,000 after acquiring an additional 4,043 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHOP. Mizuho upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Thursday, February 12th. ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Truist Financial set a $150.00 target price on Shopify and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $126.00 target price (down from $181.00) on shares of Shopify in a research note on Thursday, February 12th. Finally, Benchmark lowered their target price on Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.17.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s board approved an additional $3 billion for share repurchases, lifting the total authorization to $5 billion. Buybacks can support the stock by reducing share count and signaling management confidence in the business. Shopify Board Approves Expanding Share Repurchase Program to US$5 Billion
• Positive Sentiment: Analyst and momentum commentary remained favorable, with Zacks highlighting Shopify’s earnings and price momentum and noting continued investor interest in the name. Shopify (SHOP) Boasts Earnings & Price Momentum: Should You Buy?
• Positive Sentiment: Third-party product activity continues to build around Shopify, including a new payment rewards application for merchants and a Shopify Payment Extension added to EMTWerx 2.0, reinforcing ecosystem expansion. RealFi Announces Development of XRP Ledger-Powered Payment Rewards Application for Shopify Merchants
• Neutral Sentiment: Shopify resolved a roughly two-hour outage that affected storefronts and checkouts. While the issue was fixed quickly, it may have reminded investors that platform reliability remains important for merchant confidence. Shopify Resolves 2-Hour Outage Impacting Storefronts and Checkouts
• Negative Sentiment: Some articles pointed to broader volatility and recent profit-taking after a sharp move higher, suggesting investors may be locking in gains rather than chasing the stock immediately. Why Shopify (SHOP) Stock Is Down Today

Shopify Stock Down 3.5%

Shares of SHOP opened at $112.94 on Thursday. The stock has a market capitalization of $146.56 billion, a P/E ratio of 111.82, a P/E/G ratio of 3.28 and a beta of 2.60. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company has a 50 day moving average of $114.73 and a 200-day moving average of $133.18.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.22 by $998.78. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, sell-side analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

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.