Norris Financial Group LLC Buys New Shares in Shopify Inc. $SHOP

Norris Financial Group LLC bought a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,368 shares of the software maker’s stock, valued at approximately $1,586,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. purchased a new stake in Shopify in the fourth quarter valued at approximately $26,000. Curio Wealth LLC purchased a new position in Shopify during the 4th quarter worth approximately $27,000. Evolution Wealth Management Inc. lifted its stake in Shopify by 203.9% during the 1st quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after acquiring an additional 155 shares during the period. Graney & King LLC acquired a new stake in Shopify during the 1st quarter valued at approximately $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Shopify in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP stock opened at $122.40 on Friday. The firm has a market cap of $158.83 billion, a PE ratio of 121.19, a P/E/G ratio of 2.79 and a beta of 2.58. The firm’s fifty day moving average is $116.30 and its 200 day moving average is $120.70. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19.

Analyst Ratings Changes

SHOP has been the subject of several recent research reports. Bank of America started coverage on shares of Shopify in a report on Tuesday, July 7th. They set a “buy” rating and a $150.00 target price for the company. BTIG Research began coverage on Shopify in a research report on Friday, July 10th. They set a “buy” rating on the stock. Wells Fargo & Company reduced their price objective on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Benchmark reissued a “buy” rating on shares of Shopify in a report on Wednesday. Finally, UBS Group restated a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Three research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.69.

Shopify News Roundup

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

About Shopify

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.