Quilter Plc Purchases 4,050 Shares of Shopify Inc. (NYSE:SHOP)

Quilter Plc raised its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 201.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,065 shares of the software maker's stock after buying an additional 4,050 shares during the quarter. Quilter Plc's holdings in Shopify were worth $579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SHOP. Allianz SE acquired a new stake in Shopify in the fourth quarter worth about $27,000. PFG Private Wealth Management LLC lifted its position in Shopify by 3,657.1% in 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 period. Fourth Dimension Wealth LLC acquired a new stake in Shopify in the fourth quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC boosted its stake in 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Shopify during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Performance

Shares of NYSE:SHOP traded up $1.35 on Monday, hitting $115.00. 7,054,682 shares of the company were exchanged, compared to its average volume of 10,915,959. The company's 50 day moving average price is $103.68 and its two-hundred day moving average price is $104.64. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The firm has a market capitalization of $149.20 billion, a price-to-earnings ratio of 74.19, a PEG ratio of 4.82 and a beta of 2.63.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research analyst reports. Atb Cap Markets upgraded Shopify from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Mizuho reduced their price objective on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group lowered their price objective on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. BNP Paribas lowered shares of Shopify from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 5th. 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 report on Friday, May 9th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.66.

Shopify Company 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.