Shopify Inc. (NYSE:SHOP) Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,727 shares of the software maker’s stock after selling 492 shares during the period. Shopify makes up approximately 2.6% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 4th biggest holding. Louisbourg Investments Inc.’s holdings in Shopify were worth $10,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allianz SE acquired a new stake in shares of Shopify during the fourth quarter worth $27,000. PFG Private Wealth Management LLC lifted its stake in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Shopify during the fourth quarter worth $30,000. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% during 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. Finally, Sierra Ocean LLC acquired a new stake in shares of Shopify during the fourth quarter worth $46,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

NYSE:SHOP opened at $108.37 on Tuesday. The firm has a market capitalization of $140.60 billion, a price-to-earnings ratio of 69.92, a PEG ratio of 4.82 and a beta of 2.63. The company’s 50-day moving average is $99.26 and its two-hundred day moving average is $104.94. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research reports. BNP Paribas Exane downgraded shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a research report on Monday, May 5th. Truist Financial decreased their target price on shares of Shopify from $120.00 to $100.00 and set a “hold” rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on shares of Shopify from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of Shopify in a research report on Tuesday, April 15th. Finally, Morgan Stanley boosted their target price on shares of Shopify from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.66.

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.