SEB Asset Management AB bought a new position in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 217,311 shares of the software maker’s stock, valued at approximately $25,703,000.
Other large investors also recently bought and sold shares of the company. TBH Global Asset Management LLC increased its stake 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 buying an additional 75 shares during the period. Smartleaf Asset Management LLC raised its holdings in Shopify by 13.9% during the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in Shopify by 2.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock valued at $509,000 after acquiring an additional 80 shares during the last quarter. Pacific Sage Partners LLC lifted its holdings in shares of Shopify by 3.9% in the 4th quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock valued at $343,000 after purchasing an additional 80 shares during the last quarter. Finally, WealthCollab LLC grew its stake in Shopify by 26.7% during the 4th quarter. WealthCollab LLC now owns 380 shares of the software maker’s stock worth $61,000 after buying an additional 80 shares during 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 several research analyst reports. DA Davidson cut their price target on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Robert W. Baird set a $150.00 price objective on Shopify in a report on Wednesday, May 6th. Citizens Jmp lowered their target price on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Morgan Stanley cut shares of Shopify from an “overweight” rating to a “buy” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company reduced their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.58.
Shopify Price Performance
Shares of NASDAQ SHOP opened at $123.56 on Monday. The stock has a fifty day moving average price of $112.47 and a 200 day moving average price of $123.35. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The company has a market cap of $160.34 billion, a PE 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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