Shopify Inc. (NYSE:SHOP) Shares Bought by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. raised its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 56.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,350 shares of the software maker's stock after acquiring an additional 3,000 shares during the period. Shopify accounts for approximately 0.8% of Alan B Lancz & Associates Inc.'s portfolio, making the stock its 29th largest position. Alan B Lancz & Associates Inc.'s holdings in Shopify were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SHOP. Allianz SE acquired a new stake in Shopify during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in Shopify during the 4th quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC lifted its position in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after acquiring an additional 100 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Shopify during the 4th quarter worth approximately $46,000. Finally, FWL Investment Management LLC acquired a new stake in Shopify during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank Of Canada reduced their price target on Shopify from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Atb Cap Markets raised Shopify from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Wells Fargo & Company raised their price target on Shopify from $107.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Jefferies Financial Group reduced their price target on Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, Loop Capital reduced their price target on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and an average price target of $115.66.

Shopify Stock Performance

Shopify stock traded down $3.14 during midday trading on Friday, reaching $112.03. The stock had a trading volume of 3,915,109 shares, compared to its average volume of 9,296,625. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a market capitalization of $145.34 billion, a PE ratio of 72.38, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61. The stock's 50-day simple moving average is $107.60 and its 200 day simple moving average is $104.93.

Shopify 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.