Scotia Capital Inc. trimmed its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,084,224 shares of the software maker's stock after selling 33,255 shares during the period. Scotia Capital Inc. owned about 0.08% of Shopify worth $102,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify in the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Shopify in the 4th quarter worth approximately $46,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Shopify in the 1st quarter worth approximately $49,000. FWL Investment Management LLC purchased a new stake in Shopify during the fourth quarter valued at approximately $56,000. Finally, Clean Yield Group lifted its position in Shopify by 59.9% during the first quarter. Clean Yield Group now owns 582 shares of the software maker's stock valued at $56,000 after acquiring an additional 218 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.
Shopify Stock Down 3.0%
SHOP opened at $118.60 on Friday. The company has a market cap of $153.87 billion, a price-to-earnings ratio of 76.52, a PEG ratio of 4.82 and a beta of 2.61. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm's fifty day simple moving average is $113.90 and its two-hundred day simple moving average is $106.57.
Wall Street Analyst Weigh In
A number of research firms recently commented on SHOP. KeyCorp increased their target price on shares of Shopify from $115.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. BNP Paribas Exane cut shares of Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 target price for the company. in a research report on Monday, May 5th. Wedbush reissued an "outperform" rating and set a $110.00 target price on shares of Shopify in a research report on Tuesday, April 15th. Loop Capital cut shares of Shopify from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Tuesday, July 22nd. Finally, Truist Financial cut their price target on shares of Shopify from $120.00 to $100.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and an average price target of $120.34.
Check Out Our Latest Research Report on Shopify
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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