Highview Capital Management LLC DE Takes Position in Shopify Inc. (NYSE:SHOP)

Highview Capital Management LLC DE bought a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,549 shares of the software maker's stock, valued at approximately $1,122,000.

A number of other institutional investors and hedge funds have also modified their holdings of SHOP. Orion Capital Management LLC acquired a new stake in Shopify in the 4th quarter valued at about $90,000. Castleark Management LLC acquired a new stake in Shopify in the 4th quarter valued at about $28,844,000. Financial Avengers Inc. raised its holdings in Shopify by 2.3% in the 4th quarter. Financial Avengers Inc. now owns 44,545 shares of the software maker's stock valued at $4,736,000 after acquiring an additional 985 shares during the last quarter. Continuum Advisory LLC raised its holdings in Shopify by 234.5% in the 4th quarter. Continuum Advisory LLC now owns 843 shares of the software maker's stock valued at $90,000 after acquiring an additional 591 shares during the last quarter. Finally, White Knight Strategic Wealth Advisors LLC acquired a new stake in Shopify in the 4th quarter valued at about $351,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SHOP shares. Oppenheimer dropped their price target on shares of Shopify from $150.00 to $125.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Piper Sandler increased their price target on shares of Shopify from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Mizuho dropped their price target 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. Truist Financial lowered their price objective on shares of Shopify from $120.00 to $100.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Finally, Atb Cap Markets raised shares of Shopify from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.37.

Shopify Trading Up 5.1%

Shares of NYSE:SHOP traded up $5.23 during trading on Tuesday, hitting $106.74. 3,659,879 shares of the company's stock traded hands, compared to its average volume of 9,453,809. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company has a market cap of $138.20 billion, a price-to-earnings ratio of 68.89, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. The company has a 50-day moving average price of $95.29 and a 200-day moving average price of $105.00.

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.