Dynamic Advisor Solutions LLC Buys Shares of 3,997 Shopify Inc. (NYSE:SHOP)

Dynamic Advisor Solutions LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 3,997 shares of the software maker's stock, valued at approximately $382,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz SE acquired a new position in shares of Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC grew its holdings in shares of Shopify by 3,657.1% in 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 during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify in the 4th quarter valued at $30,000. Mark Sheptoff Financial Planning LLC grew its holdings 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 buying an additional 100 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Shopify in the 4th quarter valued at $46,000. Institutional investors own 69.27% of the company's stock.

Shopify Stock Down 0.5%

Shares of NYSE SHOP opened at $105.97 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a fifty day simple moving average of $100.28 and a 200 day simple moving average of $104.91. The company has a market capitalization of $137.48 billion, a PE ratio of 68.37, a P/E/G ratio of 4.82 and a beta of 2.63.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SHOP. DA Davidson boosted their price target on shares of Shopify from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday. Morgan Stanley boosted their price target on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Mizuho reduced their target price on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Benchmark reduced their target price on shares of Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Shopify has a consensus rating of "Moderate Buy" and an average price target of $115.66.

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.

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