Revolve Wealth Partners LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 58.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,027 shares of the software maker's stock after buying an additional 4,818 shares during the quarter. Revolve Wealth Partners LLC's holdings in Shopify were worth $1,244,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SHOP. Tallon Kerry Patrick purchased a new position in shares of Shopify in the 4th quarter worth about $230,000. Brighton Jones LLC boosted its holdings in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after purchasing an additional 584 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Trilogy Capital Inc. purchased a new position in shares of Shopify in the 4th quarter worth about $216,000. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Shopify by 5.2% in the 4th quarter. Bleakley Financial Group LLC now owns 18,011 shares of the software maker's stock worth $1,915,000 after purchasing an additional 898 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SHOP has been the subject of several analyst reports. Benchmark dropped their target price on Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Phillip Securities cut Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. Morgan Stanley increased their target price on Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Mizuho dropped their target price on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, ATB Capital boosted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.11.
Get Our Latest Analysis on Shopify
Shopify Trading Up 6.1%
NYSE:SHOP traded up $6.38 during trading hours on Friday, reaching $111.41. 8,729,612 shares of the company traded hands, compared to its average volume of 9,422,623. The business's 50-day moving average price is $96.02 and its two-hundred day moving average price is $105.06. The stock has a market capitalization of $144.26 billion, a P/E ratio of 71.88, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.
Shopify Profile
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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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