Clare Market Investments LLC Buys 1,095 Shares of Shopify Inc. (NYSE:SHOP)

Clare Market Investments LLC increased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,095 shares of the software maker’s stock after purchasing an additional 1,095 shares during the period. Clare Market Investments LLC’s holdings in Shopify were worth $868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz SE acquired a new position in Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC increased its holdings in 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. Fourth Dimension Wealth LLC acquired a new position in Shopify in the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Mather Group LLC. increased its holdings 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 purchasing an additional 184 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 1.5%

Shares of SHOP opened at $103.58 on Thursday. The company has a market capitalization of $134.12 billion, a price-to-earnings ratio of 66.83, a PEG ratio of 4.82 and a beta of 2.66. The stock has a 50 day moving average of $95.55 and a 200 day moving average of $105.01. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SHOP. Mizuho decreased their price target on Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. ATB Capital increased their price target on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Evercore ISI increased their price target on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. National Bankshares decreased their price target on Shopify from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.37.

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.