Shopify Inc. (NYSE:SHOP) Shares Bought by Wesbanco Bank Inc.

Wesbanco Bank Inc. lifted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 5.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,969 shares of the software maker's stock after purchasing an additional 4,664 shares during the quarter. Wesbanco Bank Inc.'s holdings in Shopify were worth $8,399,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SHOP. LRI Investments LLC lifted its stake in Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock worth $94,000 after purchasing an additional 79 shares in the last quarter. Tidemark LLC increased its holdings in shares of Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after purchasing an additional 90 shares during the last quarter. Howland Capital Management LLC increased its holdings in shares of Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after purchasing an additional 99 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its position 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 buying an additional 100 shares in the last quarter. Finally, Seven Mile Advisory boosted its stake in Shopify by 2.3% during the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock worth $539,000 after buying an additional 114 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify Trading Down 4.3%

SHOP traded down $4.92 during trading on Thursday, hitting $109.21. 8,648,082 shares of the company's stock were exchanged, compared to its average volume of 9,405,828. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a 50 day moving average price of $97.46 and a 200 day moving average price of $105.15. The firm has a market cap of $141.41 billion, a P/E ratio of 70.46, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of recent research reports. Barclays cut their target price on Shopify from $100.00 to $94.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Phillip Securities cut shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. Oppenheimer decreased their target price on shares of Shopify from $150.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. National Bankshares dropped their price target on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Morgan Stanley lifted their price target on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $115.39.

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.