Clarius Group LLC Increases Stake in Shopify Inc. (NYSE:SHOP)

Clarius Group LLC increased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 64.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,449 shares of the software maker's stock after buying an additional 2,909 shares during the period. Clarius Group LLC's holdings in Shopify were worth $711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz SE purchased a new position in Shopify in the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Shopify in the fourth quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC grew its stake in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Shopify in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SHOP. BNP Paribas lowered Shopify from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 5th. Benchmark lowered their price target on Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. UBS Group lowered their price target on Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Atb Cap Markets raised Shopify from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Finally, National Bankshares lowered their price target on Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $115.66.

Shopify Trading Down 0.5%

Shares of NYSE:SHOP opened at $105.97 on Thursday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a market capitalization of $137.48 billion, a PE ratio of 68.37, a PEG ratio of 4.82 and a beta of 2.63. The business has a 50 day moving average of $99.86 and a two-hundred day moving average of $104.96.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.