Avanza Fonder AB reduced its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,347 shares of the software maker's stock after selling 2,560 shares during the period. Avanza Fonder AB's holdings in Shopify were worth $2,249,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Allianz SE purchased a new position in Shopify in the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC increased its position 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 buying an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify in the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC raised its position in Shopify by 50.0% during the fourth 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 last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 69.27% of the company's stock.
Analyst Ratings Changes
SHOP has been the subject of several research reports. ATB Capital lifted their price objective on Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Robert W. Baird upped their price objective on Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Phillip Securities cut Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley raised their price target on shares of Shopify from $106.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.39.
Check Out Our Latest Report on Shopify
Shopify Stock Performance
Shares of SHOP stock traded down $4.92 during mid-day trading on Thursday, hitting $109.21. 8,648,082 shares of the stock traded hands, compared to its average volume of 9,387,730. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company's 50-day simple moving average is $97.46 and its 200-day simple moving average is $105.15. The firm has a market cap of $141.41 billion, a price-to-earnings ratio of 70.46, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63.
Shopify Profile
(
Free Report)
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.
Read More
Before you consider Shopify, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.
While Shopify currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
