Financial Avengers Inc. Acquires 985 Shares of Shopify Inc. (NYSE:SHOP)

Financial Avengers Inc. raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,545 shares of the software maker’s stock after buying an additional 985 shares during the period. Shopify comprises approximately 2.2% of Financial Avengers Inc.’s portfolio, making the stock its 13th largest position. Financial Avengers Inc.’s holdings in Shopify were worth $4,736,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Allianz SE purchased a new position in shares of Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC increased its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of Shopify in the fourth quarter worth approximately $39,000. Finally, Mather Group LLC. increased its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a research note on Monday, April 28th. Royal Bank of Canada cut their price objective on shares of Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. UBS Group lowered their price target on shares of Shopify from $125.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Loop Capital reduced their target price on Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group lowered their price objective on shares of Shopify from $130.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $115.37.

Shopify Trading Down 2.4%

NYSE:SHOP opened at $106.43 on Wednesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The stock has a 50-day moving average price of $94.87 and a 200 day moving average price of $104.30. The stock has a market capitalization of $137.81 billion, a P/E ratio of 68.66, a P/E/G ratio of 4.82 and a beta of 2.66.

Shopify Company Profile

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.