Toth Financial Advisory Corp Has $838,000 Holdings in Shopify Inc. (NYSE:SHOP)

Toth Financial Advisory Corp lifted its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 42.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,775 shares of the software maker's stock after buying an additional 2,623 shares during the quarter. Toth Financial Advisory Corp's holdings in Shopify were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Allianz SE acquired a new stake in shares of 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. Fourth Dimension Wealth LLC bought a new position in Shopify during the fourth quarter worth $30,000. 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. Finally, Sierra Ocean LLC bought a new position in Shopify during the fourth quarter worth $46,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial reduced their price objective on Shopify from $120.00 to $100.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. KeyCorp reduced their price objective on Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group reduced their price objective on Shopify from $130.00 to $110.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Wedbush restated an "outperform" rating and set a $110.00 price objective on shares of Shopify in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group cut their target price on Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $115.39.

Shopify Trading Down 3.5%

NYSE:SHOP traded down $3.87 during mid-day trading on Friday, reaching $105.34. 7,971,810 shares of the stock were exchanged, compared to its average volume of 9,382,979. The business has a fifty day moving average price of $98.07 and a 200 day moving average price of $105.14. The firm has a market capitalization of $136.40 billion, a PE ratio of 67.96, a PEG 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 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.