Diversified Trust Co Increases Holdings in Shopify Inc. (NYSE:SHOP)

Diversified Trust Co increased its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 107.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,440 shares of the software maker's stock after acquiring an additional 2,815 shares during the period. Diversified Trust Co's holdings in Shopify were worth $519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Allianz SE purchased a new stake in shares of Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC raised its position in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after buying an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Shopify in the 4th quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% in the 4th 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 shares of Shopify in the 4th quarter worth approximately $46,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of NYSE:SHOP traded up $1.72 during trading on Thursday, hitting $116.49. The company's stock had a trading volume of 3,735,128 shares, compared to its average volume of 9,289,586. The company has a market capitalization of $151.13 billion, a PE ratio of 75.19, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The business has a 50 day moving average price of $105.37 and a two-hundred day moving average price of $104.77.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Barclays decreased their price objective on shares of Shopify from $100.00 to $94.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group lowered their price objective on shares of Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Loop Capital reduced their target price on shares of Shopify from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Oppenheimer lowered their price target on Shopify from $150.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. One research 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.66.

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.