Capital A Wealth Management LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

Capital A Wealth Management LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 3,196 shares of the software maker's stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOP. Tallon Kerry Patrick acquired a new stake in Shopify in the 4th quarter valued at about $230,000. Brighton Jones LLC boosted its stake in Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after buying an additional 584 shares during the last quarter. RFG Advisory LLC boosted its stake in Shopify by 7.5% during the fourth quarter. RFG Advisory LLC now owns 8,706 shares of the software maker's stock worth $926,000 after buying an additional 608 shares during the last quarter. DGS Capital Management LLC grew its holdings in Shopify by 9.0% in the 4th quarter. DGS Capital Management LLC now owns 3,853 shares of the software maker's stock valued at $410,000 after buying an additional 317 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Shopify by 8.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,069 shares of the software maker's stock worth $433,000 after acquiring an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SHOP. DA Davidson lowered their price target on shares of Shopify from $150.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group decreased their target price on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada dropped their price target on shares of Shopify from $145.00 to $125.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. ATB Capital upped their price objective on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, Benchmark cut their target price on Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.37.

Shopify Stock Down 2.5%

NYSE:SHOP traded down $2.73 during mid-day trading on Friday, reaching $104.97. 12,179,149 shares of the stock were exchanged, compared to its average volume of 9,459,138. The stock has a market capitalization of $135.92 billion, a P/E ratio of 67.72, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a 50 day simple moving average of $95.41 and a 200-day simple moving average of $105.15.

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.