Caliber Wealth Management LLC KS Makes New Investment in Shopify Inc. (NYSE:SHOP)

Key Points

• Caliber Wealth Management LLC invested approximately $434,000 in Shopify Inc., acquiring 4,485 shares in the first quarter.
• Shopify's stock saw a 1.9% increase and has a current market cap of $161.43 billion, with significant fluctuations in its 52-week trading range between $48.56 and $129.38.
• A mix of upgrades and downgrades have been issued by analysts, with Nineteen analysts rating it as a "hold" or better and a consensus price target of $119.16 for the stock.

Caliber Wealth Management LLC KS bought a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,485 shares of the software maker's stock, valued at approximately $434,000.

Several other institutional investors have also recently bought and sold shares of SHOP. Brighton Jones LLC lifted its stake in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock valued at $2,252,000 after acquiring an additional 584 shares in the last quarter. Prudential Financial Inc. lifted its stake in Shopify by 112.7% in the 4th quarter. Prudential Financial Inc. now owns 36,322 shares of the software maker's stock valued at $3,864,000 after acquiring an additional 19,242 shares in the last quarter. Modern Wealth Management LLC bought a new stake in Shopify in the 4th quarter valued at approximately $266,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $252,000. Finally, Sava Infond d.o.o. acquired a new position in shares of Shopify during the 4th quarter worth approximately $117,000. Institutional investors own 69.27% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SHOP. Wedbush reaffirmed an "outperform" rating and set a $110.00 price target on shares of Shopify in a research report on Tuesday, April 15th. Barclays lowered their price target on Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. KeyCorp boosted their price target on Shopify from $115.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. BNP Paribas Exane lowered Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price target on the stock. in a research report on Monday, May 5th. Finally, Truist Financial lowered their price target on Shopify from $120.00 to $100.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Shopify has an average rating of "Moderate Buy" and a consensus target price of $120.34.

Shopify Stock Performance

Shares of SHOP stock traded up $0.07 on Wednesday, hitting $124.92. The company had a trading volume of 1,725,950 shares, compared to its average volume of 10,343,316. The firm has a market cap of $162.07 billion, a P/E ratio of 80.55, a P/E/G ratio of 4.82 and a beta of 2.61. The stock's 50-day moving average is $112.77 and its two-hundred day moving average is $106.18. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

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.