Yarbrough Capital LLC grew its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,020 shares of the software maker's stock after buying an additional 12,540 shares during the period. Yarbrough Capital LLC's holdings in Shopify were worth $10,505,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SHOP. LRI Investments LLC raised its holdings in shares of Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock valued at $94,000 after buying an additional 79 shares during the period. Tidemark LLC increased its stake in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock worth $276,000 after purchasing an additional 90 shares during the period. Howland Capital Management LLC increased its stake in Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock worth $526,000 after purchasing an additional 99 shares during the period. Mark Sheptoff Financial Planning LLC lifted 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 worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Seven Mile Advisory boosted its stake in shares of Shopify by 2.3% in the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock valued at $539,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on SHOP shares. Morgan Stanley increased their target price on shares of Shopify from $106.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. BNP Paribas Exane cut Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price objective on the stock. in a research note on Monday, May 5th. Jefferies Financial Group cut their price target on Shopify from $130.00 to $110.00 and set a "hold" rating on the stock in a report on Monday, May 5th. DA Davidson decreased their price objective on Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, UBS Group lowered their price objective on Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $115.39.
Read Our Latest Stock Report on SHOP
Shopify Stock Up 3.5%
Shares of NYSE SHOP traded up $3.87 during trading on Wednesday, hitting $114.13. 13,988,133 shares of the company traded hands, compared to its average volume of 9,418,119. The firm has a market capitalization of $147.78 billion, a P/E ratio of 73.63, a P/E/G ratio of 4.82 and a beta of 2.63. The company has a 50-day moving average price of $96.72 and a 200-day moving average price of $105.09. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.
Shopify Company Profile
(
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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