Atria Investments Inc grew its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 5.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,520 shares of the software maker's stock after purchasing an additional 8,695 shares during the quarter. Atria Investments Inc's holdings in Shopify were worth $16,950,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. LRI Investments LLC boosted its position in shares of Shopify by 9.8% in the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker's stock valued at $94,000 after acquiring an additional 79 shares during the period. Mark Sheptoff Financial Planning LLC boosted its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares during the period. Fullcircle Wealth LLC boosted its position in shares of Shopify by 2.7% in the first quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker's stock valued at $418,000 after acquiring an additional 110 shares during the period. Seven Mile Advisory raised its stake in Shopify by 2.3% in the fourth 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 in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its stake in Shopify by 3.4% in the first quarter. Avidian Wealth Enterprises LLC now owns 3,533 shares of the software maker's stock valued at $337,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 69.27% of the company's stock.
Wall Street Analysts Forecast Growth
SHOP has been the topic of a number of recent analyst reports. Atb Cap Markets raised shares of Shopify from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. BNP Paribas downgraded shares of Shopify from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 5th. Stifel Nicolaus raised their target price on shares of Shopify from $100.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 15th. Needham & Company LLC assumed coverage on shares of Shopify in a research note on Monday, July 14th. They set a "buy" rating and a $135.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Shopify from $106.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of "Moderate Buy" and a consensus target price of $119.16.
View Our Latest Research Report on SHOP
Shopify Stock Performance
Shares of NYSE SHOP traded up $2.35 during midday trading on Friday, hitting $124.43. 6,934,211 shares of the company's stock traded hands, compared to its average volume of 10,473,647. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a market capitalization of $161.43 billion, a price-to-earnings ratio of 80.28, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61. The firm has a fifty day moving average of $112.05 and a 200 day moving average of $105.92.
About Shopify
(
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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