2,382 Shares in Shopify Inc. (NYSE:SHOP) Acquired by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG has acquired 2,382 shares of Shopify Inc. valued at approximately $227,000, marking a new investment in the company during the first quarter.
• Shopify's stock has shown a twelve-month range, with a low of $52.34 and a high of $129.38, and currently has a market capitalization of $164.77 billion.
• Recent analyst ratings suggest a generally positive outlook, with an average rating of "Moderate Buy" and a consensus price target of $120.74 for Shopify shares.

J. Safra Sarasin Holding AG acquired a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,382 shares of the software maker's stock, valued at approximately $227,000.

Several other institutional investors have also added to or reduced their stakes in SHOP. Brighton Jones LLC raised its holdings in Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after purchasing an additional 584 shares in the last quarter. Cerity Partners LLC grew its position in shares of Shopify by 6.3% in the 4th quarter. Cerity Partners LLC now owns 91,447 shares of the software maker's stock worth $8,887,000 after buying an additional 5,454 shares during the period. Certior Financial Group LLC purchased a new stake in shares of Shopify in the 4th quarter worth about $200,000. FIL Ltd increased its stake in shares of Shopify by 11.9% in the 4th quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after acquiring an additional 1,682,326 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Shopify during the 4th quarter valued at about $166,811,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 1.0%

NYSE SHOP traded down $1.46 during trading hours on Friday, hitting $149.61. 9,567,891 shares of the company's stock traded hands, compared to its average volume of 10,552,143. Shopify Inc. has a 52 week low of $65.86 and a 52 week high of $156.85. The firm has a market capitalization of $194.10 billion, a P/E ratio of 96.52, a P/E/G ratio of 4.82 and a beta of 2.63. The business's fifty day moving average price is $116.61 and its two-hundred day moving average price is $107.55.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SHOP. Scotiabank restated a "sector perform" rating and issued a $150.00 price objective (up previously from $115.00) on shares of Shopify in a report on Thursday. Wedbush boosted their price target on Shopify from $115.00 to $160.00 and gave the stock an "outperform" rating in a research report on Thursday. Citigroup upped their price target on Shopify from $155.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday. Barclays lifted their price objective on Shopify from $94.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Arete Research raised Shopify to a "hold" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.97.

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.