Alpine Bank Wealth Management Purchases Shares of 1,000 Shopify Inc. (NYSE:SHOP)

Alpine Bank Wealth Management acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the first quarter, HoldingsChannel reports. The institutional investor acquired 1,000 shares of the software maker’s stock, valued at approximately $95,000.

A number of other large investors have also recently made changes to their positions in the business. Allianz SE bought a new stake in shares of Shopify during the 4th quarter valued at about $27,000. PFG Private Wealth Management LLC lifted its holdings in 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 buying an additional 256 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Shopify during the 4th quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC boosted its position 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 acquiring an additional 100 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Shopify during the 4th quarter worth approximately $46,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

NYSE SHOP opened at $113.89 on Thursday. The stock has a market capitalization of $147.76 billion, a price-to-earnings ratio of 73.48, a PEG ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The business’s fifty day moving average price is $102.49 and its 200-day moving average price is $104.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BNP Paribas Exane cut Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a research note on Monday, May 5th. Barclays dropped their target price on shares of Shopify from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group decreased their price target on shares of Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. UBS Group dropped their price objective on shares of Shopify from $125.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, Atb Cap Markets raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.66.

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.