Catalyst Capital Advisors LLC Invests $2 Million in Shopify Inc. (NYSE:SHOP)

Catalyst Capital Advisors LLC acquired a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,925 shares of the software maker's stock, valued at approximately $1,998,000.

A number of other institutional investors have also bought and sold shares of the business. Dynamic Advisor Solutions LLC acquired a new stake in shares of Shopify in the first quarter valued at approximately $382,000. Bessemer Group Inc. grew its holdings in Shopify by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 1,059,585 shares of the software maker's stock valued at $101,163,000 after buying an additional 38,616 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Shopify by 1.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 38,732 shares of the software maker's stock worth $3,694,000 after acquiring an additional 432 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Shopify by 2.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 5,541 shares of the software maker's stock worth $529,000 after acquiring an additional 158 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Shopify by 2.1% during the 4th quarter. Blair William & Co. IL now owns 467,025 shares of the software maker's stock worth $49,659,000 after acquiring an additional 9,819 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of analyst reports. UBS Group dropped their price objective on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a report on Friday, May 9th. BMO Capital Markets started coverage on shares of Shopify in a report on Tuesday, May 6th. They set an "outperform" rating and a $120.00 price target for the company. Mizuho decreased their price objective on Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Morgan Stanley raised their target price on Shopify from $106.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Benchmark decreased their price target on Shopify from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.66.

Shopify Stock Up 2.4%

NYSE SHOP opened at $117.50 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a 50 day moving average of $105.81 and a two-hundred day moving average of $104.78. The stock has a market capitalization of $152.44 billion, a PE ratio of 75.81, 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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