Shopify Inc. (NYSE:SHOP) Shares Acquired by Atria Investments Inc

Atria Investments Inc grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,520 shares of the software maker’s stock after purchasing an additional 8,695 shares during the quarter. Atria Investments Inc’s holdings in Shopify were worth $16,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. LRI Investments LLC raised its holdings in shares of Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock valued at $94,000 after purchasing an additional 79 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Shopify by 50.0% in 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. Fullcircle Wealth LLC raised its holdings in shares of Shopify by 2.7% in the 1st quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker’s stock valued at $418,000 after purchasing an additional 110 shares in the last quarter. Seven Mile Advisory raised its holdings in shares of Shopify by 2.3% in the 4th quarter. Seven Mile Advisory now owns 5,068 shares of the software maker’s stock valued at $539,000 after purchasing an additional 114 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its holdings in shares of Shopify by 3.4% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 3,533 shares of the software maker’s stock valued at $337,000 after purchasing an additional 116 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 0.1%

Shares of NYSE:SHOP traded up $0.17 during trading on Thursday, reaching $122.38. The stock had a trading volume of 1,133,431 shares, compared to its average volume of 10,473,996. The business has a fifty day moving average price of $111.54 and a 200-day moving average price of $105.74. The stock has a market cap of $158.77 billion, a P/E ratio of 78.95, a PEG ratio of 4.82 and a beta of 2.61. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Wall Street Analyst Weigh In

SHOP has been the topic of several research analyst reports. CIBC lifted their price target on shares of Shopify from $125.00 to $145.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Stifel Nicolaus boosted their price target on shares of Shopify from $100.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, July 15th. Jefferies Financial Group reduced their price target on shares of Shopify from $130.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Wells Fargo & Company boosted their price target on shares of Shopify from $107.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. Finally, Arete reissued a “neutral” rating on shares of Shopify in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.16.

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.