After this afternoon's 8.6% surge to $116.6 per share, Shopify might just keep moving past its target price of $121.09. With an average analyst rating of buy, and target prices from $78.0 to $145.0, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 2.2%, and a short ratio of 2.63. The company's insiders own 0.18% 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 72.0% of Shopify's shares being owned by this investor type.
Institutions Invested in Shopify
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Baillie Gifford and Company | 5% | 63,366,308 | $7,388,511,416 |
| 2024-09-30 | Capital World Investors | 4% | 52,605,725 | $6,133,827,454 |
| 2024-09-30 | Price (T.Rowe) Associates Inc | 4% | 47,769,041 | $5,569,870,107 |
| 2024-09-30 | Vanguard Group Inc | 4% | 46,298,950 | $5,398,457,499 |
| 2024-09-30 | FMR, LLC | 3% | 42,306,077 | $4,932,888,513 |
| 2024-09-30 | Morgan Stanley | 3% | 41,336,156 | $4,819,795,726 |
| 2024-09-30 | Capital International Investors | 3% | 35,548,279 | $4,144,929,277 |
| 2024-09-30 | Capital Research Global Investors | 3% | 34,602,051 | $4,034,599,093 |
| 2024-09-30 | Royal Bank of Canada | 2% | 19,597,192 | $2,285,032,557 |
| 2024-09-30 | Polen Capital Management, LLC | 2% | 18,967,838 | $2,211,649,881 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Shopify.
