EULAV Asset Management lessened its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,000 shares of the software maker's stock after selling 10,000 shares during the period. EULAV Asset Management's holdings in Shopify were worth $9,071,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of SHOP. Brighton Jones LLC lifted its holdings in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after acquiring an additional 584 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Shopify in the 4th quarter worth approximately $561,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Shopify during the 4th quarter valued at $2,021,000. Banco Santander S.A. raised its holdings in Shopify by 6.6% during the 4th quarter. Banco Santander S.A. now owns 76,954 shares of the software maker's stock valued at $8,183,000 after buying an additional 4,777 shares during the last quarter. Finally, Sowell Financial Services LLC raised its holdings in Shopify by 2.6% during the 4th quarter. Sowell Financial Services LLC now owns 24,798 shares of the software maker's stock valued at $2,637,000 after buying an additional 622 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.
Shopify Stock Up 1.6%
SHOP traded up $1.84 during midday trading on Wednesday, hitting $114.32. 3,007,280 shares of the company traded hands, compared to its average volume of 9,295,381. The firm has a market capitalization of $148.31 billion, a PE ratio of 73.75, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61. The company's 50-day moving average is $106.85 and its 200 day moving average is $104.83. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.
Wall Street Analyst Weigh In
SHOP has been the subject of a number of recent analyst reports. Oppenheimer lowered their price target on shares of Shopify from $150.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Truist Financial lowered their price target on shares of Shopify from $120.00 to $100.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Jefferies Financial Group lowered their price target on shares of Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a report on Monday, May 5th. Loop Capital lowered their price target on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group lowered their price target on shares of Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $115.66.
Check Out Our Latest Research Report on Shopify
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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