Keystone Wealth Services LLC Acquires 439 Shares of Shopify Inc. (NYSE:SHOP)

Keystone Wealth Services LLC increased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,498 shares of the software maker’s stock after acquiring an additional 439 shares during the period. Keystone Wealth Services LLC’s holdings in Shopify were worth $525,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Allianz SE bought a new position in shares of Shopify in the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC grew its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Shopify by 50.0% in the fourth 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, Sierra Ocean LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $46,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Down 3.5%

SHOP opened at $105.34 on Monday. The stock has a market cap of $136.40 billion, a PE ratio of 67.96, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The business’s fifty day simple moving average is $98.64 and its 200 day simple moving average is $104.99.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. BMO Capital Markets initiated coverage on Shopify in a report on Tuesday, May 6th. They set an “outperform” rating and a $120.00 price objective for the company. BNP Paribas Exane lowered Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a report on Monday, May 5th. The Goldman Sachs Group reduced their price objective on Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Truist Financial reduced their price objective on Shopify from $120.00 to $100.00 and set a “hold” rating for the company in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reduced their price objective on Shopify from $130.00 to $110.00 and set a “hold” rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average target price of $115.39.

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.