Riverpark Capital Management LLC Has $1.92 Million Stock Holdings in Shopify Inc. $SHOP

Riverpark Capital Management LLC lessened its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 28.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 12,941 shares of the software maker’s stock after selling 5,118 shares during the period. Shopify makes up about 3.5% of Riverpark Capital Management LLC’s holdings, making the stock its 8th largest position. Riverpark Capital Management LLC’s holdings in Shopify were worth $1,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SHOP. Financial Gravity Companies Inc. purchased a new stake in Shopify in the 2nd quarter valued at about $27,000. Rothschild Investment LLC increased its holdings in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new position in Shopify in the 3rd quarter worth approximately $27,000. Estabrook Capital Management bought a new stake in Shopify during the 2nd quarter valued at $29,000. Finally, Vestor Capital LLC bought a new stake in shares of Shopify during the 2nd quarter valued at $34,000. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the topic of several recent analyst reports. Truist Financial set a $150.00 target price on shares of Shopify and gave the stock a “buy” rating in a research note on Tuesday, February 17th. ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. UBS Group cut their price target on shares of Shopify from $165.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a research note on Monday, December 29th. Finally, Zacks Research lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $163.33.

Shopify Stock Down 3.1%

Shares of Shopify stock opened at $129.36 on Wednesday. The firm has a market cap of $168.41 billion, a PE ratio of 139.10, a price-to-earnings-growth 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. The company’s fifty day simple moving average is $135.92 and its two-hundred day simple moving average is $149.03.

Key Stories 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 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.