3,196 Shares in Shopify Inc. (NYSE:SHOP) Bought by Capital A Wealth Management LLC

Capital A Wealth Management LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, Holdings Channel.com reports. The firm purchased 3,196 shares of the software maker’s stock, valued at approximately $340,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Shopify during the 4th quarter worth $132,323,000. Western Financial Corp CA acquired a new stake in Shopify during the 4th quarter worth $239,000. Kessler Investment Group LLC acquired a new stake in Shopify during the 4th quarter worth $6,105,000. First National Corp MA ADV purchased a new position in Shopify during the 4th quarter worth $237,000. Finally, Empowered Funds LLC grew its position in Shopify by 39.7% during the 4th quarter. Empowered Funds LLC now owns 31,355 shares of the software maker’s stock worth $3,334,000 after purchasing an additional 8,909 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Down 1.7%

SHOP stock opened at $101.51 on Monday. The company has a market cap of $131.44 billion, a P/E ratio of 65.49, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company’s 50-day moving average price is $95.30 and its 200 day moving average price is $104.90.

Analyst Upgrades and Downgrades

SHOP has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Scotiabank lowered their price objective on shares of Shopify from $120.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Monday, April 28th. BNP Paribas Exane downgraded shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on shares of Shopify from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Capital One Financial raised shares of Shopify from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $115.37.

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.