Highview Capital Management LLC DE Purchases 6,942 Shares of Shopify Inc. (NYSE:SHOP)

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

Several other large investors have also added to or reduced their stakes in the company. LRI Investments LLC boosted its stake in Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock worth $94,000 after purchasing an additional 79 shares during the period. Tidemark LLC lifted its holdings in shares of Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after purchasing an additional 90 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings 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 purchasing an additional 100 shares in the last quarter. Fullcircle Wealth LLC boosted its position in shares of Shopify by 2.7% during the first quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker's stock worth $418,000 after buying an additional 110 shares during the period. Finally, Seven Mile Advisory grew its holdings in shares of Shopify by 2.3% during the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock worth $539,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Benchmark cut their target price on Shopify from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. KeyCorp lowered their price objective on shares of Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and set a $110.00 target price on shares of Shopify in a report on Tuesday, April 15th. Mizuho reduced their price objective 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. Finally, Morgan Stanley upped their target price on Shopify from $106.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of "Moderate Buy" and an average price target of $115.66.

Shopify Stock Performance

NYSE:SHOP traded down $3.05 during mid-day trading on Friday, reaching $112.11. 5,574,434 shares of the company's stock were exchanged, compared to its average volume of 9,310,496. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The business's fifty day simple moving average is $107.86 and its two-hundred day simple moving average is $104.95. The firm has a market capitalization of $145.45 billion, a PE ratio of 72.33, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61.

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.