Brookwood Investment Group LLC Acquires New Stake in Shopify Inc. (NYSE:SHOP)

Key Points

• Brookwood Investment Group LLC purchased 4,539 shares of Shopify Inc., valued at approximately $433,000, during the first quarter of the year.
• Institutional investors now control 69.27% of Shopify's stock, with significant holdings increased by firms such as Atria Investments and Pinnacle Associates Ltd.
• Wall Street analysts have mixed ratings for Shopify, with recent price targets ranging from $120.00 to $150.00 and an average rating of "Moderate Buy."

Brookwood Investment Group LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,539 shares of the software maker's stock, valued at approximately $433,000.

Several other large investors have also added to or reduced their stakes in SHOP. Allianz SE bought a new position in shares of Shopify in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new position in Shopify during the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new position in Shopify during the fourth quarter worth about $46,000. FWL Investment Management LLC bought a new position in Shopify during the fourth quarter worth about $56,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Shopify during the fourth quarter worth about $60,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SHOP. Royal Bank Of Canada raised their price target on shares of Shopify from $125.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Barclays lowered their price target on shares of Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Mizuho decreased their target price on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Oppenheimer decreased their target price on shares of Shopify from $150.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Stifel Nicolaus raised their target price on shares of Shopify from $100.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.16.

Shopify Price Performance

Shopify stock traded up $2.35 during trading on Friday, reaching $124.43. 6,934,211 shares of the company were exchanged, compared to its average volume of 10,473,647. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market capitalization of $161.43 billion, a P/E ratio of 80.28, a PEG ratio of 4.82 and a beta of 2.61. The stock's 50 day simple moving average is $112.05 and its two-hundred day simple moving average is $105.90.

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.