Blair William & Co. IL Has $47.34 Million Stake in Shopify Inc. (NYSE:SHOP)

Key Points

• Blair William & Co. IL increased its stake in Shopify Inc. by 6.2%, now holding 495,828 shares valued at approximately $47.34 million.
• Institutional investors and hedge funds collectively own 69.27% of Shopify's stock, indicating significant institutional interest in the company.
• Shopify's stock has a current price target consensus of $120.34 with recommendations ranging from a buy to a hold among analysts.

Blair William & Co. IL lifted its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 495,828 shares of the software maker's stock after acquiring an additional 28,803 shares during the quarter. Blair William & Co. IL's holdings in Shopify were worth $47,342,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SHOP. Fourth Dimension Wealth LLC purchased a new position in shares of Shopify in the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Shopify during the fourth quarter worth about $46,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Shopify during the first quarter worth about $49,000. FWL Investment Management LLC purchased a new stake in Shopify in the fourth quarter worth about $56,000. Finally, Clean Yield Group lifted its holdings in shares of Shopify by 59.9% during the first quarter. Clean Yield Group now owns 582 shares of the software maker's stock valued at $56,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group reissued a "hold" rating on shares of Shopify in a research report on Friday, July 18th. Loop Capital downgraded shares of Shopify from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Tuesday, July 22nd. Wedbush reissued an "outperform" rating and set a $110.00 price target on shares of Shopify in a research report on Tuesday, April 15th. Capital One Financial raised shares of Shopify from an "equal weight" rating to an "overweight" rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group cut their target price on shares of Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.34.

Shopify Price Performance

NYSE SHOP opened at $118.60 on Monday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm's fifty day moving average price is $113.90 and its 200 day moving average price is $106.60. The company has a market capitalization of $153.87 billion, a price-to-earnings ratio of 76.52, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63.

About Shopify

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.

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