On May 3, 2023 at 11:39:50 ET an unusually large $1,044.00K block of Put contracts in Shopify Inc – (SHOP) was bought, with a strike price of $45.00 / share, expiring in 415 day(s) (on June 21, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.91 sigmas above the mean, placing it in the 97.28th percentile of all recent large trades made in SHOP options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1454 funds or institutions reporting positions in Shopify Inc -. This is an increase of 75 owner(s) or 5.44% in the last quarter. Average portfolio weight of all funds dedicated to SHOP is 0.62%, an increase of 38.61%. Total shares owned by institutions increased in the last three months by 4.34% to 934,103K shares. The put/call ratio of SHOP is 0.87, indicating a bullish outlook.

Analyst Price Forecast Suggests 7.88% Upside

As of April 24, 2023, the average one-year price target for Shopify Inc – is $50.46. The forecasts range from a low of $32.32 to a high of $85.50. The average price target represents an increase of 7.88% from its latest reported closing price of $46.78.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Shopify Inc – is $6,783MM, an increase of 21.13%. The projected annual non-GAAP EPS is $0.03.

What are Other Shareholders Doing?

AEPGX – EUROPACIFIC GROWTH FUND holds 44,470K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 39,450K shares, representing an increase of 11.29%. The firm increased its portfolio allocation in SHOP by 32.79% over the last quarter.

Bank of New Hampshire holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.

Samlyn Capital holds 426K shares representing 0.03% ownership of the company. In it’s prior filing, the firm reported owning 1,104K shares, representing a decrease of 159.03%. The firm decreased its portfolio allocation in SHOP by 80.25% over the last quarter.

RPGEX – T. Rowe Price Global Growth Stock Fund holds 56K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 73K shares, representing a decrease of 31.04%. The firm increased its portfolio allocation in SHOP by 11.56% over the last quarter.

Vanguard Capital Wealth Advisors holds 7K shares representing 0.00% ownership of the company. No change in the last quarter.

Shopify Background Information
(This description is provided by the company.)

Shopify is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Headquartered in Ottawa, Canada, Shopify powers over one million businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, PepsiCo, Staples and many more.

See all Shopify Inc – regulatory filings.

This article originally appeared on Fintel

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