Shopify Inc. $SHOP Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp cut its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 9.3% in the second quarter, Holdings Channel reports. The firm owned 104,940 shares of the software maker’s stock after selling 10,720 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Shopify were worth $12,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SHOP. Vanguard Group Inc. lifted its stake in shares of Shopify by 2.8% during the second quarter. Vanguard Group Inc. now owns 49,316,695 shares of the software maker’s stock worth $5,688,053,000 after buying an additional 1,354,415 shares during the period. Norges Bank acquired a new position in shares of Shopify in the 2nd quarter valued at $1,794,952,000. Loomis Sayles & Co. L P raised its stake in Shopify by 1.3% in the 2nd quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after acquiring an additional 191,824 shares during the last quarter. Jennison Associates LLC raised its stake in Shopify by 118.1% in the 2nd quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock worth $1,328,787,000 after acquiring an additional 6,238,829 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after acquiring an additional 1,781,530 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.4%

Shopify stock opened at $158.64 on Monday. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The stock’s 50 day simple moving average is $157.48 and its two-hundred day simple moving average is $136.18. The firm has a market cap of $206.52 billion, a PE ratio of 117.51, a P/E/G ratio of 5.86 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating 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 firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SHOP. Evercore ISI increased their price objective on Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, August 8th. KeyCorp upped their target price on Shopify from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. ATB Capital lowered shares of Shopify to a “sector perform” rating in a research report on Thursday, August 7th. Benchmark restated a “buy” rating on shares of Shopify in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus set a $175.00 price objective on shares of Shopify in a research note on Tuesday, November 4th. Twenty-two analysts have rated the stock with a Buy rating and twenty-four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $165.69.

About Shopify

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.