Mackenzie Financial Corp Has $1.36 Billion Holdings in Shopify Inc. $SHOP

Mackenzie Financial Corp cut its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,133,454 shares of the software maker’s stock after selling 158,031 shares during the quarter. Shopify makes up about 1.6% of Mackenzie Financial Corp’s investment portfolio, making the stock its 10th largest position. Mackenzie Financial Corp owned approximately 0.70% of Shopify worth $1,356,633,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Financial Gravity Companies Inc. bought a new stake in shares of Shopify in the 2nd quarter valued at about $27,000. Rothschild Investment LLC boosted its stake in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Heartwood Wealth Advisors LLC purchased a new position in Shopify during the third quarter valued at approximately $27,000. Estabrook Capital Management purchased a new position in Shopify during the second quarter valued at approximately $29,000. Finally, Vestor Capital LLC bought a new position in Shopify in the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify expanded its partnership with Klaviyo to add Locale Aware Catalogs and deeper interoperability, making it easier for global merchants to manage translated content, regional pricing and market-specific URLs — a move that can reduce merchant friction and help Shopify win/retain larger cross-border brands. Klaviyo, Shopify deepen product integration
• Positive Sentiment: Brokerage coverage is constructive overall: analyst consensus compiled by some outlets shows a “Moderate Buy” skew, which supports continued investor interest and institutional demand over time. Shopify Inc. Receives Consensus Rating of “Moderate Buy”
• Neutral Sentiment: Jefferies raised its price target on SHOP from $125 to $150 but kept a “hold” rating — the higher target signals better medium-term upside, yet the lack of an upgrade tempers near-term enthusiasm. Benzinga
• Neutral Sentiment: Shopify has been a trending/most-searched stock on Zacks and other financial sites; articles touting SHOP as a long-term pick and a trending ticker can increase retail attention but are not immediate revenue catalysts. Here is What to Know Beyond Why Shopify Inc. (SHOP) is a Trending Stock
• Negative Sentiment: Technicals and intra-day trading pressure: the stock is trading below its 50-day and 200-day moving averages, on lighter-than-normal volume, which suggests profit-taking and technical selling dominated today despite positive product and analyst news. (Background: SHOP has a 50-day SMA of $136.61 and a 200-day SMA of $149.12.)

Shopify Trading Down 3.1%

Shares of SHOP stock opened at $129.36 on Wednesday. The business’s fifty day simple moving average is $135.92 and its 200-day simple moving average is $149.03. The company has a market cap of $168.41 billion, a PE ratio of 139.10, a PEG ratio of 4.79 and a beta of 2.83. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company set a $191.00 target price on Shopify and gave the stock an “overweight” rating in a report on Thursday, February 12th. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $126.00 price objective (down from $181.00) on shares of Shopify in a research report on Thursday, February 12th. Finally, Robert W. Baird set a $160.00 target price on Shopify in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.33.

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.