Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,695 shares of the software maker's stock, valued at approximately $287,000.
Other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC boosted its position in Shopify by 9.8% during the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock worth $94,000 after acquiring an additional 79 shares during the period. Tidemark LLC increased its position in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC increased its position in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after purchasing an additional 99 shares during the period. Mark Sheptoff Financial Planning LLC increased its position 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 valued at $32,000 after purchasing an additional 100 shares during the period. Finally, Seven Mile Advisory increased its position in shares of Shopify by 2.3% during the 4th quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock valued at $539,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.
Shopify Stock Performance
Shares of Shopify stock traded up $5.23 during trading on Tuesday, reaching $106.74. The company's stock had a trading volume of 7,550,825 shares, compared to its average volume of 9,468,673. The business's fifty day moving average price is $95.29 and its 200-day moving average price is $105.00. The firm has a market cap of $138.21 billion, a price-to-earnings ratio of 68.86, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SHOP. Jefferies Financial Group decreased their target price on Shopify from $130.00 to $110.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Canaccord Genuity Group lifted their target price on Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. TD Securities lifted their target price on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Royal Bank of Canada decreased their target price on Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, Robert W. Baird lifted their target price on Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.37.
Check Out Our Latest Stock 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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