Shopify Inc. (NYSE:SHOP) Shares Purchased by Highview Capital Management LLC DE

Highview Capital Management LLC DE boosted its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 65.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,491 shares of the software maker's stock after buying an additional 6,942 shares during the period. Highview Capital Management LLC DE's holdings in Shopify were worth $1,670,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allianz SE acquired a new position in Shopify in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC increased its position 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 buying an additional 100 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $46,000. Finally, FWL Investment Management LLC purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Shopify from $124.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group cut their price objective on Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group cut their price objective on Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. KeyCorp cut their price objective on Shopify from $140.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Benchmark cut their price objective on Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $115.66.

Shopify Stock Performance

Shares of Shopify stock traded up $1.84 during trading hours on Wednesday, hitting $114.32. The company's stock had a trading volume of 6,121,426 shares, compared to its average volume of 9,318,248. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a fifty day moving average of $106.85 and a 200-day moving average of $104.83. The stock has a market cap of $148.32 billion, a price-to-earnings ratio of 73.76, a P/E/G ratio of 4.82 and a beta of 2.61.

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.