Greatmark Investment Partners Inc. Makes New $298,000 Investment in Shopify Inc. (NYSE:SHOP)

Greatmark Investment Partners Inc. acquired a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,125 shares of the software maker's stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allianz SE acquired a new position in shares of Shopify in the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in Shopify during the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after buying an additional 100 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Shopify in the fourth quarter valued at $46,000. Finally, FWL Investment Management LLC bought a new position in shares of Shopify in the fourth quarter valued at $56,000. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Atb Cap Markets raised Shopify from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $91.00 target price on shares of Shopify in a report on Wednesday, June 11th. Capital One Financial upgraded Shopify from an "equal weight" rating to an "overweight" rating in a research report on Thursday, May 8th. Royal Bank Of Canada cut their price objective on Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, UBS Group reduced their price objective on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $115.66.

Shopify Stock Down 2.6%

Shares of SHOP traded down $3.05 during mid-day trading on Friday, hitting $112.11. 5,574,434 shares of the company's stock were exchanged, compared to its average volume of 9,316,649. The stock has a market cap of $145.45 billion, a price-to-earnings ratio of 72.33, a P/E/G ratio of 4.82 and a beta of 2.61. The firm has a fifty day moving average of $107.86 and a two-hundred day moving average of $104.91. Shopify Inc. has a twelve month low of $48.56 and a twelve month 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.