UNIVEST FINANCIAL Corp acquired a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,130 shares of the software maker's stock, valued at approximately $203,000.
Other hedge funds have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of Shopify in the 4th quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Shopify in the 4th quarter valued at about $46,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Shopify in the 1st quarter valued at about $49,000. FWL Investment Management LLC acquired a new stake in shares of Shopify in the 4th quarter valued at about $56,000. Finally, Clean Yield Group grew its stake in shares of Shopify by 59.9% in the 1st quarter. Clean Yield Group now owns 582 shares of the software maker's stock valued at $56,000 after buying an additional 218 shares during the period. 69.27% of the stock is owned by institutional investors.
Shopify Trading Down 3.0%
NYSE:SHOP opened at $118.60 on Friday. The stock has a market capitalization of $153.87 billion, a PE ratio of 76.52, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61. The firm's 50 day moving average is $113.90 and its 200 day moving average is $106.57. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.
Analysts Set New Price Targets
SHOP has been the subject of several research reports. Stifel Nicolaus raised their target price on Shopify from $100.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 15th. Loop Capital downgraded Shopify from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Tuesday, July 22nd. Morgan Stanley raised their target price on Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Needham & Company LLC initiated coverage on Shopify in a research note on Monday, July 14th. They issued a "buy" rating and a $135.00 target price for the company. Finally, BMO Capital Markets began coverage on Shopify in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $120.00 target price for the company. One 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $120.34.
View Our Latest Stock Analysis on SHOP
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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