O Neil Global Advisors Inc. Has $6.35 Million Holdings in Shopify Inc. $SHOP

O Neil Global Advisors Inc. trimmed its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 20.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,695 shares of the software maker’s stock after selling 10,824 shares during the quarter. Shopify comprises 1.2% of O Neil Global Advisors Inc.’s portfolio, making the stock its 15th biggest holding. O Neil Global Advisors Inc.’s holdings in Shopify were worth $6,345,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SHOP. Brighton Jones LLC lifted its holdings in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Shopify by 107.3% in the first 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 during the period. Sivia Capital Partners LLC lifted its stake in shares of Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after buying an additional 506 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Shopify by 407.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 980 shares of the software maker’s stock worth $113,000 after buying an additional 787 shares during the period. Finally, Ethic Inc. bought a new stake in shares of Shopify during the 2nd quarter worth $230,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SHOP. Truist Financial set a $150.00 target price on shares of Shopify and gave the stock a “buy” rating in a research report on Tuesday, February 17th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. BMO Capital Markets set a $160.00 target price on Shopify in a research note on Thursday, February 12th. Zacks Research downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Arete Research set a $175.00 price target on Shopify in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.64.

Shopify Trading Up 1.9%

Shares of NASDAQ:SHOP opened at $126.20 on Monday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The firm has a market capitalization of $164.29 billion, a PE ratio of 135.70, a PEG ratio of 4.60 and a beta of 2.83. The business’s 50 day moving average is $145.96 and its 200-day moving average is $150.66.

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.