Koss Olinger Consulting LLC Invests $292,000 in Shopify Inc. (NYSE:SHOP)

Key Points

• Koss Olinger Consulting LLC invested $292,000 in Shopify Inc., acquiring a total of 3,060 shares in the first quarter.
• According to research analysts, Shopify has received significant upgrades, with price targets from various firms reaching as high as $185.00 and an overall average target of $148.51.
• Shopify's stock currently trades around $149.61, with a market capitalization of approximately $194.10 billion and an average rating of "Moderate Buy".

Koss Olinger Consulting LLC acquired a new stake in shares of 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 and Exchange Commission. The institutional investor acquired 3,060 shares of the software maker's stock, valued at approximately $292,000.

A number of other institutional investors have also made changes to their positions in the stock. Fourth Dimension Wealth LLC bought a new stake in shares of Shopify in the 4th quarter valued at approximately $30,000. Smithfield Trust Co boosted its stake in Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock valued at $30,000 after buying an additional 188 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Shopify by 86.8% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker's stock valued at $34,000 after acquiring an additional 165 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Shopify during the fourth quarter worth $46,000. Finally, Accent Capital Management LLC bought a new position in shares of Shopify during the first quarter valued at $46,000. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SHOP shares. Arete Research raised shares of Shopify to a "hold" rating in a report on Wednesday, July 23rd. BMO Capital Markets boosted their price target on shares of Shopify from $120.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday. KeyCorp reaffirmed an "overweight" rating and set a $175.00 price objective (up previously from $145.00) on shares of Shopify in a report on Thursday. Bank of America lifted their target price on shares of Shopify from $110.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday. Finally, JMP Securities increased their price target on Shopify from $135.00 to $185.00 and gave the stock a "market outperform" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $148.51.

Shopify Trading Down 1.0%

NYSE:SHOP opened at $149.61 on Monday. Shopify Inc. has a 1-year low of $65.86 and a 1-year high of $156.85. The firm has a market capitalization of $194.10 billion, a price-to-earnings ratio of 96.52, a PEG ratio of 4.82 and a beta of 2.63. The business's 50-day moving average price is $117.50 and its two-hundred day moving average price is $107.87.

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.

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