Generali Investments Towarzystwo Funduszy Inwestycyjnych Lowers Stake in Shopify Inc. (NYSE:SHOP)

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych has significantly reduced its stake in Shopify, cutting its holdings by 87.4% to just 2,150 shares following the sale of 14,900 shares in the first quarter.
• Shopify's stock is currently trading down 3.0%, with a market capitalization of approximately $153.87 billion and varying opinions from analysts, resulting in an average rating of "Moderate Buy" with a consensus price target of $120.34.
• Several other institutional investors have recently altered their holdings in Shopify, with 69.27% of the company's stock now owned by these investors, reflecting a dynamic shift in investment patterns.

Generali Investments Towarzystwo Funduszy Inwestycyjnych lessened its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 87.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,150 shares of the software maker's stock after selling 14,900 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Shopify were worth $205,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SHOP. Fourth Dimension Wealth LLC purchased a new stake in Shopify during the fourth quarter valued at about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Shopify during the fourth quarter valued at about $46,000. N.E.W. Advisory Services LLC purchased a new stake in Shopify during the first quarter valued at about $49,000. FWL Investment Management LLC purchased a new stake in Shopify during the fourth quarter valued at about $56,000. Finally, Clean Yield Group grew its position in Shopify by 59.9% during the first quarter. Clean Yield Group now owns 582 shares of the software maker's stock valued at $56,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Trading Down 3.0%

NYSE SHOP opened at $118.60 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a market capitalization of $153.87 billion, a PE ratio of 76.52, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61. The firm's fifty day simple moving average is $113.90 and its 200-day simple moving average is $106.57.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SHOP shares. Jefferies Financial Group lowered their price target on Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a research report on Monday, May 5th. UBS Group restated a "hold" rating on shares of Shopify in a research note on Friday, July 18th. BNP Paribas cut Shopify from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 5th. Arete restated a "neutral" rating on shares of Shopify in a research note on Wednesday, July 23rd. Finally, Robert W. Baird boosted their price objective on Shopify from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $120.34.

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.

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