Oppenheimer & Co. Inc. Buys 9,916 Shares of Shopify Inc. (NYSE:SHOP)

Oppenheimer & Co. Inc. increased its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 36.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,010 shares of the software maker's stock after buying an additional 9,916 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Shopify were worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC acquired a new stake in Shopify during the 1st quarter valued at approximately $382,000. Assenagon Asset Management S.A. increased its position in Shopify by 1.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 38,732 shares of the software maker's stock valued at $3,694,000 after purchasing an additional 432 shares during the period. Johnson Investment Counsel Inc. increased its position in Shopify by 2.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 5,541 shares of the software maker's stock valued at $529,000 after purchasing an additional 158 shares during the period. Blair William & Co. IL increased its position in Shopify by 2.1% during the 4th quarter. Blair William & Co. IL now owns 467,025 shares of the software maker's stock valued at $49,659,000 after purchasing an additional 9,819 shares during the period. Finally, Meridian Wealth Management LLC increased its position in Shopify by 9.1% during the 4th quarter. Meridian Wealth Management LLC now owns 126,351 shares of the software maker's stock valued at $13,435,000 after purchasing an additional 10,570 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Performance

NYSE:SHOP traded up $0.58 during mid-day trading on Friday, reaching $113.65. The stock had a trading volume of 6,375,319 shares, compared to its average volume of 9,332,276. The firm has a 50 day moving average price of $103.68 and a two-hundred day moving average price of $104.64. The stock has a market capitalization of $147.45 billion, a P/E ratio of 73.32, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Analyst Ratings Changes

Several analysts have recently commented on SHOP shares. Atb Cap Markets raised shares of Shopify from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Mizuho reduced their price target on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Cantor Fitzgerald reissued a "neutral" rating and issued a $91.00 price target on shares of Shopify in a research report on Wednesday, June 11th. Capital One Financial upgraded Shopify from an "equal weight" rating to an "overweight" rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group dropped their price objective on Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Shopify presently has an average rating of "Moderate Buy" and a consensus target price of $115.66.

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.