Sei Investments Co. Acquires 189,583 Shares of Shopify Inc. $SHOP

Sei Investments Co. boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,704,618 shares of the software maker’s stock after buying an additional 189,583 shares during the quarter. Sei Investments Co.’s holdings in Shopify were worth $320,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kingdom Financial Group LLC. purchased a new position in shares of Shopify during the fourth quarter valued at approximately $26,000. Curio Wealth LLC purchased a new stake in Shopify in the fourth quarter worth approximately $27,000. Evolution Wealth Management Inc. grew its position in Shopify by 203.9% in the 1st quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock worth $27,000 after purchasing an additional 155 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify in the 4th quarter worth approximately $29,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Shopify during the 4th quarter valued at $31,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $118.42 on Thursday. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The stock’s fifty day moving average is $113.83 and its 200 day moving average is $122.51. The stock has a market cap of $153.67 billion, a P/E ratio of 117.25, a P/E/G ratio of 2.67 and a beta of 2.58.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. National Bank Financial set a $155.00 price target on Shopify and gave the company an “outperform” rating in a report on Monday. Zacks Research upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Piper Sandler reissued an “overweight” rating and issued a $150.00 target price (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Citigroup downgraded Shopify from a “market outperform” rating to a “neutral” rating in a research note on Friday, July 10th. Finally, Wells Fargo & Company reduced their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $157.86.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s ecosystem gained a credibility boost after OneMagnify said it reached Shopify Premier Partner status, a top-tier designation that highlights strong technical capability and enterprise commerce expertise. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Positive Sentiment: DoorDash announced a native integration for U.S. brick-and-mortar Shopify merchants, allowing them to sell through DoorDash with synced inventory and easier onboarding, which could expand Shopify merchants’ reach and support platform adoption. Shopify (SHOP) Gains A New DoorDash Link As Its Valuation Narrative Faces A Test
• Neutral Sentiment: Shopify was highlighted in several analyst and media pieces as a closely watched software name, with Morgan Stanley saying sentiment across software stocks has become too negative. That may support the broader valuation narrative, but it is not a direct catalyst on its own. Morgan Stanley Analysts Say Sentiment Has Gotten ‘Too Negative’ on Software Stocks. These Are Their Picks
• Negative Sentiment: Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though the new $130 price target still implies some upside from recent levels. Zacks.com downgrade coverage
• Negative Sentiment: Recent trading commentary also noted Shopify has been sinking while the broader market gained, reinforcing that investors are taking profits or reassessing the near-term valuation after a strong run. Shopify (SHOP) Stock Sinks As Market Gains: What You Should Know

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.