Banque Cantonale Vaudoise Invests $312,000 in Shopify Inc. (NYSE:SHOP)

Key Points

• Banque Cantonale Vaudoise has acquired 3,241 shares of Shopify Inc., valued at approximately $312,000, as part of its first quarter investments.
• Shopify's current market capitalization stands at $153.87 billion, with its shares recently opening at $118.60.
• Analyst ratings for Shopify are generally positive, with a consensus of "Moderate Buy" and a target price of approximately $120.34.

Banque Cantonale Vaudoise purchased a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,241 shares of the software maker's stock, valued at approximately $312,000.

Several other large investors have also recently modified their holdings of SHOP. Fourth Dimension Wealth LLC bought a new stake in shares of Shopify during the 4th quarter valued at about $30,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Shopify during the 4th quarter valued at approximately $46,000. N.E.W. Advisory Services LLC bought a new position in shares of Shopify during the 1st quarter valued at approximately $49,000. FWL Investment Management LLC bought a new position in shares of Shopify during the 4th quarter valued at approximately $56,000. Finally, Clean Yield Group grew its stake in shares of Shopify by 59.9% during the 1st quarter. Clean Yield Group now owns 582 shares of the software maker's stock valued at $56,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Shopify from $124.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $91.00 price target on shares of Shopify in a report on Wednesday, June 11th. Oppenheimer reissued an "outperform" rating and issued a $145.00 price target (up from $125.00) on shares of Shopify in a report on Monday, July 28th. Wedbush reissued an "outperform" rating and issued a $110.00 price target on shares of Shopify in a report on Tuesday, April 15th. Finally, Atb Cap Markets raised Shopify from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $120.34.

Shopify Price Performance

NYSE SHOP traded up $6.61 during trading on Monday, hitting $125.21. The company's stock had a trading volume of 6,873,442 shares, compared to its average volume of 10,339,145. The company has a market cap of $162.45 billion, a PE ratio of 80.78, a P/E/G ratio of 4.82 and a beta of 2.63. The business's 50 day simple moving average is $113.90 and its 200-day simple moving average is $106.60. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

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.