Shopify Inc. (NYSE:SHOP) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 17,086.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 91,947 shares of the software maker's stock after acquiring an additional 91,412 shares during the period. GAMMA Investing LLC's holdings in Shopify were worth $8,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allianz SE acquired a new position in Shopify in the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC boosted its holdings 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 in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of 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 acquiring an additional 100 shares during the period. Finally, Mather Group LLC. boosted its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after acquiring an additional 184 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SHOP shares. DA Davidson decreased their price target on Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. ATB Capital boosted their price target on Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. 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. Robert W. Baird boosted their price target on Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, UBS Group decreased their price target on Shopify from $125.00 to $110.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and an average price target of $115.39.

Shopify Price Performance

Shopify stock traded up $3.87 during midday trading on Wednesday, hitting $114.13. 14,061,476 shares of the company were exchanged, compared to its average volume of 9,408,837. The company's fifty day moving average price is $97.46 and its 200-day moving average price is $105.15. The company has a market cap of $147.78 billion, a PE ratio of 73.63, a price-to-earnings-growth 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.

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.