Hilltop Holdings Inc. Cuts Stock Position in Shopify Inc. $SHOP

Hilltop Holdings Inc. reduced its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 62.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,249 shares of the software maker’s stock after selling 10,290 shares during the quarter. Hilltop Holdings Inc.’s holdings in Shopify were worth $741,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SHOP. Brighton Jones LLC increased its position in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares during the period. AQR Capital Management LLC increased its holdings in shares of Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after purchasing an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Shopify by 6.6% in 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 in the last quarter. Osterweis Capital Management Inc. acquired a new position in Shopify in the 2nd quarter worth about $53,000. Finally, Main Street Financial Solutions LLC raised its stake in shares of Shopify by 15.3% during 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. Institutional investors and hedge funds own 69.27% of the company’s stock.

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

Shopify Stock Performance

NASDAQ SHOP opened at $113.75 on Monday. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The firm’s fifty day moving average is $114.39 and its two-hundred day moving average is $121.82. The firm has a market cap of $147.61 billion, a PE ratio of 112.62, a P/E/G ratio of 2.45 and a beta of 2.58.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stifel Nicolaus set a $150.00 price target on shares of Shopify and gave the company a “buy” rating in a research note on Thursday, July 9th. UBS Group reissued a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Wells Fargo & Company reduced their target price on Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Jefferies Financial Group upgraded shares of Shopify from a “hold” rating to a “buy” rating and lifted their target price for the company from $140.00 to $160.00 in a report on Sunday, July 12th. Finally, Citigroup cut their price objective on Shopify from $156.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.69.

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.