K.J. Harrison & Partners Inc Sells 14,903 Shares of Shopify Inc. (NYSE:SHOP)

K.J. Harrison & Partners Inc decreased its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 48.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,727 shares of the software maker's stock after selling 14,903 shares during the quarter. K.J. Harrison & Partners Inc's holdings in Shopify were worth $1,498,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SHOP. Allianz SE acquired a new position in Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC boosted its position in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after acquiring an additional 256 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify in the fourth quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC increased its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after acquiring an additional 100 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Shopify in the 4th quarter worth about $46,000. Institutional investors own 69.27% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHOP. Mizuho decreased their target price on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. KeyCorp reduced their price target on Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. BMO Capital Markets initiated coverage on Shopify in a research note on Tuesday, May 6th. They set an "outperform" rating and a $120.00 price objective on the stock. BNP Paribas Exane downgraded Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 target price for the company. in a research report on Monday, May 5th. Finally, Benchmark reduced their target price on Shopify from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and a consensus price target of $115.66.

Shopify Trading Up 0.5%

Shares of SHOP stock opened at $113.65 on Friday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock has a market cap of $147.45 billion, a price-to-earnings ratio of 73.32, a PEG ratio of 4.82 and a beta of 2.63. The stock has a 50-day moving average of $103.68 and a 200-day moving average of $104.72.

About Shopify

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.

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