Yarbrough Capital LLC Buys 12,540 Shares of Shopify Inc. (NYSE:SHOP)

Yarbrough Capital LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 12.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,020 shares of the software maker's stock after acquiring an additional 12,540 shares during the period. Yarbrough Capital LLC's holdings in Shopify were worth $10,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Allianz SE acquired a new position in shares of Shopify during the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC raised its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after buying an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify during the fourth quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC raised its position in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after buying an additional 100 shares during the last quarter. Finally, Mather Group LLC. raised its position in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after buying an additional 184 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Trading Up 6.1%

Shares of SHOP traded up $6.38 during mid-day trading on Friday, hitting $111.41. 8,729,612 shares of the company traded hands, compared to its average volume of 9,422,623. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The business has a 50-day moving average of $96.02 and a 200 day moving average of $105.06. The stock has a market capitalization of $144.26 billion, a price-to-earnings ratio of 71.88, a PEG ratio of 4.82 and a beta of 2.63.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Loop Capital cut their price objective on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley increased 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. BNP Paribas Exane lowered shares of Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price target for the company. in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Phillip Securities lowered shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $115.11.

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.