Integrity Investment Advisors LLC Purchases Shares of 4,580 Shopify Inc. (NYSE:SHOP)

Integrity Investment Advisors LLC acquired a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,580 shares of the software maker's stock, valued at approximately $437,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allianz SE acquired a new stake in shares of Shopify in the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new stake in Shopify in the fourth quarter worth $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in Shopify by 50.0% during 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 during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Shopify in the 4th quarter worth $46,000. Finally, FWL Investment Management LLC acquired a new position in shares of Shopify during the fourth quarter worth approximately $56,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NYSE:SHOP traded up $1.36 during trading on Monday, hitting $128.43. 6,410,156 shares of the stock were exchanged, compared to its average volume of 9,276,969. The company's fifty day simple moving average is $110.52 and its 200-day simple moving average is $105.37. The company has a market capitalization of $166.62 billion, a price-to-earnings ratio of 82.86, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Analyst Ratings Changes

Several research firms have recently commented on SHOP. KeyCorp lowered their target price on Shopify from $140.00 to $105.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Jefferies Financial Group dropped their target price on shares of Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a research report on Monday, May 5th. 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. Barclays dropped their price target on Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Finally, Stifel Nicolaus upped their target price on shares of Shopify from $100.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $118.11.

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.