Guardian Asset Advisors LLC Has $1.04 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Guardian Asset Advisors LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 94.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,937 shares of the software maker's stock after purchasing an additional 5,315 shares during the period. Guardian Asset Advisors LLC's holdings in Shopify were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Allianz SE acquired a new stake in shares of Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Shopify during the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Shopify during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

SHOP opened at $113.65 on Friday. The firm's fifty day moving average is $103.68 and its two-hundred day moving average is $104.72. The firm has a market cap of $147.45 billion, a PE ratio of 73.32, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHOP. Royal Bank Of Canada reduced their target price on Shopify from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group dropped their price target on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group reduced their price objective on shares of Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company upped their price objective on shares of Shopify from $107.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, UBS Group lowered their target price on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $115.66.

About Shopify

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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