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JCIC Asset Management Inc. Buys 45,230 Shares of Shopify Inc. (NYSE:SHOP)

Shopify logo with Computer and Technology background

JCIC Asset Management Inc. increased its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 5,951.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,990 shares of the software maker's stock after acquiring an additional 45,230 shares during the quarter. Shopify comprises 1.8% of JCIC Asset Management Inc.'s holdings, making the stock its 17th largest holding. JCIC Asset Management Inc.'s holdings in Shopify were worth $4,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Allianz SE bought a new stake in Shopify in the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC increased its holdings in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in Shopify in the fourth quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC increased its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Shopify during the fourth quarter worth approximately $46,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of SHOP traded up $0.58 during mid-day trading on Friday, hitting $113.65. The stock had a trading volume of 6,375,319 shares, compared to its average volume of 9,321,550. The firm has a market cap of $147.45 billion, a P/E ratio of 73.32, a PEG ratio of 4.82 and a beta of 2.63. The business has a fifty day moving average price of $103.68 and a 200-day moving average price of $104.80. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SHOP shares. Loop Capital reduced their price target on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company lifted their price objective on shares of Shopify from $107.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, June 6th. KeyCorp decreased their target price on shares of Shopify from $140.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. BNP Paribas Exane cut shares of Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price target on the stock. in a research report on Monday, May 5th. Finally, Capital One Financial raised Shopify from an "equal weight" rating to an "overweight" rating in a research report on Thursday, May 8th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Shopify has an average rating of "Moderate Buy" and an average price target of $115.66.

Read Our Latest Stock Analysis on SHOP

About Shopify

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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