Earned Wealth Advisors LLC raised its position in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 60.1% in the 1st quarter, Holdings Channel reports. The firm owned 11,727 shares of the software maker’s stock after buying an additional 4,400 shares during the quarter. Earned Wealth Advisors LLC’s holdings in Shopify were worth $1,391,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of SHOP. TBH Global Asset Management LLC grew its holdings in shares of Shopify by 1.2% during the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 75 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock valued at $72,000 after acquiring an additional 77 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in Shopify by 2.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock valued at $509,000 after purchasing an additional 80 shares in the last quarter. Pacific Sage Partners LLC lifted its stake in Shopify by 3.9% during the fourth quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock worth $343,000 after purchasing an additional 80 shares during the last quarter. Finally, WealthCollab LLC boosted its holdings in shares of Shopify by 26.7% in the 4th quarter. WealthCollab LLC now owns 380 shares of the software maker’s stock worth $61,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.
Analysts Set New Price Targets
SHOP has been the topic of a number of research reports. Citizens Jmp decreased their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Wells Fargo & Company decreased their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Barclays set a $126.00 price objective on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. National Bank Financial lowered their price target on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Finally, BMO Capital Markets initiated coverage on Shopify in a research note on Friday, July 10th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.58.
Shopify Stock Performance
NASDAQ:SHOP opened at $123.56 on Monday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The company has a 50-day moving average price of $112.47 and a 200-day moving average price of $123.35. The stock has a market cap of $160.34 billion, a price-to-earnings ratio of 122.34, a P/E/G ratio of 2.68 and a beta of 2.58.
Shopify Profile
Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.
Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.
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