Nepsis Inc. Boosts Position in Shopify Inc. (NYSE:SHOP)

Nepsis Inc. lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 96.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,706 shares of the software maker’s stock after acquiring an additional 86,262 shares during the period. Shopify makes up 4.1% of Nepsis Inc.’s portfolio, making the stock its 13th biggest position. Nepsis Inc.’s holdings in Shopify were worth $16,776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Allianz SE purchased a new stake in Shopify during the 4th quarter worth $27,000. PFG Private Wealth Management LLC lifted its stake in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Shopify in the fourth quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC grew its stake in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Shopify during the 4th quarter worth approximately $46,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHOP has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Evercore ISI lifted their price target on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. National Bankshares cut their price objective on Shopify from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. ATB Capital increased their target price on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price target on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.11.

Shopify Stock Performance

Shopify stock opened at $107.80 on Tuesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market cap of $139.58 billion, a PE ratio of 69.55, a P/E/G ratio of 4.82 and a beta of 2.63. The firm’s 50 day moving average price is $96.16 and its two-hundred day moving average price is $105.05.

Shopify 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.