Arrowstreet Capital Limited Partnership Sells 5,073,528 Shares of Shopify Inc. $SHOP

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 83.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,001,408 shares of the software maker’s stock after selling 5,073,528 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Shopify were worth $118,804,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after buying an additional 584 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after buying an additional 7,544 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Shopify by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after buying an additional 506 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Shopify in the 2nd quarter worth approximately $53,000. Finally, Main Street Financial Solutions LLC boosted its holdings in Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after buying an additional 1,479 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shares of SHOP opened at $113.75 on Friday. The stock has a 50-day simple moving average of $114.39 and a 200-day simple moving average of $122.13. The stock has a market capitalization of $147.61 billion, a PE ratio of 112.62, a PEG ratio of 2.45 and a beta of 2.58. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Citigroup lowered its price target on Shopify to $150 from $156 but kept a Buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Several analyst-focused articles highlighted Shopify as a buy and pointed to roughly 28% upside based on consensus price targets, which can support sentiment around the stock. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Growth-oriented coverage continued to argue that Shopify’s strong fundamentals and growth profile could make it attractive for long-term investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Neutral Sentiment: Reports about Shopify merchants processing record GMV and the broader merchant ecosystem underscore platform momentum, but they were more of an industry/operating backdrop than a direct stock-moving announcement. DSCP Smart Fulfillment Addresses Critical Gap as Shopify Merchants Process Record $378 Billion in Annual Sales
• Negative Sentiment: Rothschild & Co Redburn cut Shopify to Hold, a downgrade that likely pressured the shares and signaled more caution on the stock’s near-term upside. Shopify (NASDAQ:SHOP) Cut to “Hold” at Rothschild & Co Redburn

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SHOP shares. Citizens Jmp reduced their price target on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. National Bank Financial set a $155.00 target price on Shopify and gave the company an “outperform” rating in a research report on Monday, July 20th. Morgan Stanley cut Shopify from an “overweight” rating to a “buy” rating in a research note on Monday, July 13th. BMO Capital Markets began coverage on Shopify in a report on Friday, July 10th. They set a “market perform” rating on the stock. Finally, Piper Sandler restated an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $157.69.

Shopify 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.