Shopify Inc. (NYSE:SHOP) Shares Acquired by Integrated Advisors Network LLC

Integrated Advisors Network LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 36.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 15,425 shares of the software maker’s stock after buying an additional 4,117 shares during the period. Integrated Advisors Network LLC’s holdings in Shopify were worth $1,473,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Kessler Investment Group LLC bought a new stake in shares of Shopify in the 4th quarter worth $6,105,000. Empowered Funds LLC grew its holdings in Shopify by 39.7% during the fourth quarter. Empowered Funds LLC now owns 31,355 shares of the software maker’s stock worth $3,334,000 after acquiring an additional 8,909 shares during the period. Allspring Global Investments Holdings LLC raised its position in Shopify by 150.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 475,564 shares of the software maker’s stock worth $51,121,000 after acquiring an additional 285,737 shares in the last quarter. Pittenger & Anderson Inc. lifted its holdings in Shopify by 35.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 51,951 shares of the software maker’s stock valued at $5,524,000 after acquiring an additional 13,736 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC bought a new position in shares of Shopify during the 4th quarter valued at about $213,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NYSE SHOP opened at $109.21 on Friday. The business’s 50-day simple moving average is $98.07 and its 200-day simple moving average is $105.14. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a market cap of $141.41 billion, a price-to-earnings ratio of 70.46, a P/E/G ratio of 4.82 and a beta of 2.63.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHOP. BNP Paribas Exane downgraded shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Monday, May 5th. Royal Bank of Canada dropped their price target on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Atb Cap Markets upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 8th. Mizuho decreased their target price on Shopify from $110.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group cut their target price on Shopify from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One equities research 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. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $115.39.

About Shopify

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.