Waverly Advisors LLC Raises Stock Holdings in Shopify Inc. (NYSE:SHOP)

Waverly Advisors LLC grew its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 185.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,781 shares of the software maker's stock after buying an additional 5,701 shares during the quarter. Waverly Advisors LLC's holdings in Shopify were worth $934,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOP. Allianz SE purchased a new stake in Shopify during the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC lifted its stake in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in Shopify by 50.0% during the fourth 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 last quarter. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the fourth quarter worth approximately $39,000. Finally, Mather Group LLC. lifted its stake in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Price Performance

Shopify stock traded up $5.23 during trading hours on Tuesday, hitting $106.74. The stock had a trading volume of 7,550,825 shares, compared to its average volume of 9,468,666. The stock has a market capitalization of $138.21 billion, a price-to-earnings ratio of 68.86, a PEG ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The stock's fifty day moving average is $95.29 and its two-hundred day moving average is $105.00.

Analyst Ratings Changes

SHOP has been the subject of several recent analyst reports. Phillip Securities cut Shopify from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald decreased their target price on Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Oppenheimer cut their price target on Shopify from $150.00 to $125.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, TD Securities lifted their price target on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.37.

Shopify 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.