Mendel Money Management purchased a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,100 shares of the software maker's stock, valued at approximately $201,000.
Other large investors have also modified their holdings of the company. Allianz SE purchased a new position in shares of Shopify during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in Shopify in the 4th quarter valued at $30,000. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Shopify during the fourth quarter worth $46,000. Finally, FWL Investment Management LLC acquired a new stake in shares of Shopify during the fourth quarter worth $56,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.
Shopify Price Performance
Shares of NYSE:SHOP traded up $2.35 during midday trading on Friday, reaching $124.43. The company had a trading volume of 6,934,211 shares, compared to its average volume of 10,473,647. The stock has a market capitalization of $161.43 billion, a P/E ratio of 80.28, a PEG ratio of 4.82 and a beta of 2.61. The stock's fifty day moving average price is $111.77 and its 200-day moving average price is $105.80. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. BNP Paribas downgraded Shopify from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 5th. Truist Financial dropped their price objective on shares of Shopify from $120.00 to $100.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. National Bankshares increased their price objective on shares of Shopify from $120.00 to $140.00 and gave the stock an "outperform" rating in a report on Monday. Benchmark lowered their target price on shares of Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Wedbush reaffirmed an "outperform" rating and set a $110.00 price target on shares of Shopify in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $119.16.
Read Our Latest Research Report on SHOP
Shopify Profile
(
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.
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