Apollon Wealth Management LLC Acquires 7,411 Shares of Shopify Inc. (NYSE:SHOP)

Apollon Wealth Management LLC lifted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 6.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,549 shares of the software maker's stock after buying an additional 7,411 shares during the period. Apollon Wealth Management LLC's holdings in Shopify were worth $11,987,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Allianz SE bought a new stake in shares of Shopify in the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of Shopify during the 4th quarter valued at $30,000. Mark Sheptoff Financial Planning LLC grew its stake in shares of 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 purchased a new stake in Shopify in the 4th quarter worth about $46,000. Finally, FWL Investment Management LLC bought a new stake in Shopify in the 4th quarter valued at about $56,000. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shopify stock traded up $4.63 during trading hours on Monday, reaching $116.74. The stock had a trading volume of 10,219,665 shares, compared to its average volume of 10,618,777. The company has a fifty day simple moving average of $107.86 and a 200-day simple moving average of $104.87. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market cap of $151.46 billion, a PE ratio of 75.32, a PEG ratio of 4.82 and a beta of 2.61.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SHOP shares. Wedbush reiterated an "outperform" rating and issued a $110.00 target price on shares of Shopify in a research note on Tuesday, April 15th. Barclays reduced their price objective on shares of Shopify from $100.00 to $94.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Capital One Financial raised Shopify from an "equal weight" rating to an "overweight" rating in a report on Thursday, May 8th. Benchmark decreased their price objective on Shopify from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group reduced their target price on Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.77.

Shopify Company 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.