Venturi Wealth Management LLC Has $1.46 Million Holdings in Shopify Inc. (NYSE:SHOP)

Venturi Wealth Management LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,304 shares of the software maker’s stock after selling 1,588 shares during the period. Venturi Wealth Management LLC’s holdings in Shopify were worth $1,461,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allianz SE bought a new position in shares of Shopify during the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Shopify during the fourth quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC increased its holdings 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 purchasing an additional 100 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Shopify during the fourth quarter worth approximately $46,000. Finally, FWL Investment Management LLC bought a new position in shares of Shopify during the fourth quarter worth approximately $56,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $122.21 on Thursday. The firm has a fifty day moving average price of $111.54 and a 200 day moving average price of $105.74. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market cap of $158.55 billion, a price-to-earnings ratio of 78.85, a P/E/G ratio of 4.82 and a beta of 2.61.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Shopify from $130.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Atb Cap Markets raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 8th. National Bankshares boosted their target price on shares of Shopify from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday. Arete reaffirmed a “neutral” rating on shares of Shopify in a research note on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Shopify from $107.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $119.16.

About Shopify

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.