Shopify Inc. (NYSE:SHOP) Shares Acquired by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 58.7% in the first quarter, Holdings Channel.com reports. The fund owned 13,027 shares of the software maker’s stock after purchasing an additional 4,818 shares during the period. Revolve Wealth Partners LLC’s holdings in Shopify were worth $1,244,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. LRI Investments LLC increased its position in shares of Shopify by 9.8% during the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock valued at $94,000 after acquiring an additional 79 shares during the last quarter. Tidemark LLC increased its position in shares of Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after acquiring an additional 90 shares during the last quarter. Howland Capital Management LLC increased its position in shares of Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after acquiring an additional 99 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased 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 acquiring an additional 100 shares during the last quarter. Finally, Seven Mile Advisory increased its position in shares of Shopify by 2.3% during the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker’s stock valued at $539,000 after acquiring an additional 114 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group lowered their price objective on shares of Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. UBS Group lowered their price objective on shares of Shopify from $125.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Finally, BNP Paribas Exane lowered shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.11.

Shopify Trading Up 6.1%

Shares of NYSE:SHOP opened at $111.41 on Friday. The company has a market capitalization of $144.26 billion, a PE ratio of 71.88, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a 50 day simple moving average of $96.02 and a 200-day simple moving average of $105.06.

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.