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.
