<div id="readability-page-1"><p>Granite Bay Wealth Management LLC cut its stake in shares of  Shopify Inc. (NASDAQ:SHOP - Free Report) <span>TSE: SHOP<span></span></span> by 29.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities &amp; Exchange Commission. The institutional investor  owned 8,122 shares of the software maker's stock after selling 3,426 shares during the quarter. Granite Bay Wealth Management LLC's holdings in Shopify were worth $937,000 at the end of the most recent reporting period.</p><ul><li>High-Flyers Near Resistance: 3 Stocks to Watch for a Dip</li></ul><p>A number of other institutional investors and hedge funds also recently modified their holdings of SHOP. Salem Investment Counselors Inc. increased its stake in  Shopify by 16.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker's stock worth $81,000 after purchasing an additional 100 shares in the last quarter.  Quadcap Wealth Management LLC boosted its holdings in shares of  Shopify by 0.9% in the first quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker's stock worth $1,063,000 after buying an additional 103 shares during the period.  Centurion Wealth Management LLC boosted its holdings in shares of  Shopify by 1.7% in the second quarter. Centurion Wealth Management LLC now owns 6,339 shares of the software maker's stock worth $731,000 after buying an additional 103 shares during the period.  Fullcircle Wealth LLC increased its position in shares of  Shopify by 2.7% in the first quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker's stock worth $418,000 after acquiring an additional 110 shares in the last quarter.  Finally, Avidian Wealth Enterprises LLC increased its position in shares of  Shopify by 3.4% in the first quarter. Avidian Wealth Enterprises LLC now owns 3,533 shares of the software maker's stock worth $337,000 after acquiring an additional 116 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds. </p><h2>Shopify Price Performance</h2><p>Shares of NASDAQ SHOP opened at $143.38 on Monday. Shopify Inc. has a one year low of $69.84 and a one year high of $156.85. The business's 50-day moving average price is $133.77 and its two-hundred day moving average price is $112.04. The company has a market capitalization of $186.35 billion, a P/E ratio of 80.10, a price-to-earnings-growth ratio of 6.79 and a beta of 2.69. </p><ul><li>August's Most Upgraded: 3 Stocks With +20 Price Target Increases</li></ul><p>Shopify (NASDAQ:SHOP - Get Free Report) <span>TSE: SHOP<span></span></span> last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The business's quarterly revenue was up 31.1% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS.  On average, equities analysts anticipate that  Shopify Inc. will post 1.12 EPS for the current year. </p><h2>Analyst Ratings Changes</h2><p>Several brokerages recently commented on SHOP. BMO Capital Markets upped their price target on shares of Shopify from $120.00 to $180.00 and gave the company an &#34;outperform&#34; rating in a research report on Thursday, August 7th. ATB Capital downgraded shares of Shopify to a &#34;sector perform&#34; rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their target price on Shopify from $145.00 to $170.00 and gave the stock an &#34;outperform&#34; rating in a research report on Thursday, August 7th. Phillip Securities downgraded Shopify from a &#34;moderate buy&#34; rating to a &#34;hold&#34; rating in a report on Tuesday, August 12th. Finally, Oppenheimer upped their price target on Shopify from $145.00 to $180.00 and gave the company an &#34;outperform&#34; rating in a research report on Thursday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, twenty have assigned  a Hold rating and one  has issued  a Sell rating to the company. According to MarketBeat.com, the company  has an average rating of &#34;Moderate Buy&#34; and an average target price of $150.27.</p><ul><li>Shopify’s Risk-Reward Profile Is Suddenly Red Hot</li></ul><p><b>Get Our Latest Report on Shopify</b></p><h2>Shopify Company Profile</h2> (Free Report)<p>Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.</p><h2>Further Reading</h2><ul><li>Five stocks we like better than Shopify</li><li>How Can Investors Benefit From After-Hours Trading</li><li>Best Bang For Your Buck? 2 Bargain Stocks with 30%+ Upside</li><li>Compound Interest and Why It Matters When Investing</li><li>Football Season Is Here and DraftKings Stock Is Surging</li><li>How to Invest in the Best Canadian Stocks </li><li>RH Stock Slides After Mixed Earnings and Tariff Concerns</li></ul><p><strong>Want to see what other hedge funds are holding SHOP?</strong> Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NASDAQ:SHOP - Free Report) <span>TSE: SHOP<span></span></span>.</p><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9U0hPUA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9U0hPUA"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Shopify Right Now?</h2><p>Before you consider Shopify, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.</p><p>While Shopify currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

SHOP

<p>Granite Bay Wealth Management LLC reduced its stake in Shopify Inc. (NASDAQ:SHOP) by 29.7% in Q2, now holding 8,122 shares valued at $937,000. Other institutional investors, including Salem Investment Counselors and Quadcap Wealth Management, also adjusted their holdings. Shopify's stock opened at $143.38, with a market cap of $186.35 billion and a P/E ratio of 80.10. The company reported Q2 earnings of $0.35 per share, exceeding estimates, with revenue of $2.68 billion, a 31.1% year-over-year increase. Analysts maintain a "Moderate Buy" rating on the stock.</p>

Shopify Inc. $SHOP Shares Sold by Granite Bay Wealth Management LLC