Understanding Why Shopify Stock Is Moving Up Today.

Shopify surged to $58.73 per share this morning, but it remains 20.77% above its mean target price of $48.63. There may still be room for more downwards movement — even after today's 26.9% drop. Analysts are giving the large-cap Software stock on average rating of hold, with target prices ranging from $32.0 to $65.0 per share.

The stock has an average amount of shares sold short at 5.0%, and a short ratio of 2.55. The company's insiders own 0.19% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 66.2% of Shopify's shares being owned by this investor type.

Institutions Invested in Shopify

Date Reported Holder Percentage Shares Value
2022-12-31 Baillie Gifford and Company 5% 72,447,961 $4,254,868,716
2022-12-31 Morgan Stanley 5% 69,473,815 $4,080,197,123
2022-12-31 Capital Research Global Investors 5% 62,619,351 $3,677,634,455
2022-12-31 Vanguard Group, Inc. (The) 3% 39,304,254 $2,308,338,819
2022-12-31 Capital World Investors 2% 27,416,180 $1,610,152,238
2022-12-31 Sands Capital Management, LLC 2% 24,802,735 $1,456,664,615
2022-12-31 Price (T.Rowe) Associates Inc 2% 24,597,041 $1,444,584,206
2022-12-31 Royal Bank of Canada 2% 20,426,509 $1,199,648,864
2022-12-31 FMR, LLC 1% 16,179,007 $950,193,073
2022-12-31 Loomis Sayles & Company, LP 1% 15,100,729 $886,865,807

Besides an analyst belief that shares are overpriced, other market factors point to there being negative market sentiment on Shopify.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.