Juncture Wealth Strategies LLC Invests $297,000 in Shopify Inc. (NYSE:SHOP)

Juncture Wealth Strategies LLC bought a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,114 shares of the software maker's stock, valued at approximately $297,000.

A number of other large investors also recently added to or reduced their stakes in SHOP. Tallon Kerry Patrick purchased a new stake in shares of Shopify during the fourth quarter worth approximately $230,000. Brighton Jones LLC increased its position in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock valued at $2,252,000 after purchasing an additional 584 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Shopify by 2.7% in the 4th quarter. Pacer Advisors Inc. now owns 10,560 shares of the software maker's stock valued at $1,123,000 after purchasing an additional 274 shares in the last quarter. Greenleaf Trust lifted its position in shares of Shopify by 4.9% during the 4th quarter. Greenleaf Trust now owns 3,938 shares of the software maker's stock worth $419,000 after purchasing an additional 183 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of Shopify during the fourth quarter worth $609,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SHOP shares. Cantor Fitzgerald cut their target price on Shopify from $120.00 to $80.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Citigroup boosted their price objective on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Benchmark lowered 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. ATB Capital lifted their price target on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Finally, UBS Group lowered their price target on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.37.

Shopify Stock Down 1.5%

Shares of SHOP traded down $1.53 during midday trading on Wednesday, hitting $103.58. The company had a trading volume of 7,457,683 shares, compared to its average volume of 9,416,605. The stock has a market cap of $134.12 billion, a price-to-earnings ratio of 66.83, a PEG ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company's 50 day moving average price is $95.41 and its 200 day moving average price is $105.02.

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.