Doliver Advisors LP Increases Holdings in Shopify Inc. (NYSE:SHOP)

Doliver Advisors LP grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 47.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,365 shares of the software maker’s stock after buying an additional 2,369 shares during the period. Doliver Advisors LP’s holdings in Shopify were worth $703,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SHOP. Allianz SE bought a new stake in Shopify during the fourth quarter worth about $27,000. PFG Private Wealth Management LLC boosted its holdings in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in Shopify in the fourth quarter worth $30,000. Mark Sheptoff Financial Planning LLC boosted its holdings in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter worth $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SHOP. Piper Sandler upped their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Jefferies Financial Group dropped their target price on shares of Shopify from $130.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Canaccord Genuity Group upped their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Capital One Financial raised Shopify from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 8th. Finally, Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. One research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.37.

Shopify Trading Down 2.5%

NYSE SHOP opened at $104.97 on Friday. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a market cap of $135.92 billion, a price-to-earnings ratio of 67.72, a PEG ratio of 4.82 and a beta of 2.66. The company’s 50 day moving average is $95.31 and its two-hundred day moving average is $105.13.

Shopify 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.