Keystone Wealth Services LLC Purchases 439 Shares of Shopify Inc. (NYSE:SHOP)

Keystone Wealth Services LLC raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,498 shares of the software maker’s stock after acquiring an additional 439 shares during the period. Keystone Wealth Services LLC’s holdings in Shopify were worth $525,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pittenger & Anderson Inc. boosted its position in Shopify by 35.9% during 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 in the last quarter. Chevy Chase Trust Holdings LLC purchased a new position in shares of Shopify during the fourth quarter valued at approximately $213,000. Highview Capital Management LLC DE purchased a new position in shares of Shopify during the fourth quarter valued at approximately $1,122,000. Valeo Financial Advisors LLC lifted its holdings in shares of Shopify by 16.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 20,077 shares of the software maker’s stock valued at $2,135,000 after purchasing an additional 2,788 shares during the last quarter. Finally, World Equity Group Inc. lifted its holdings in shares of Shopify by 106.7% during the fourth quarter. World Equity Group Inc. now owns 9,062 shares of the software maker’s stock valued at $964,000 after purchasing an additional 4,678 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

NYSE:SHOP opened at $105.34 on Monday. The firm has a market capitalization of $136.40 billion, a price-to-earnings ratio of 67.96, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The business has a fifty day moving average price of $98.64 and a 200-day moving average price of $104.99.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Shopify from $125.00 to $110.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Atb Cap Markets upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. Jefferies Financial Group lowered their target price on shares of Shopify from $130.00 to $110.00 and set a “hold” rating for the company in a report on Monday, May 5th. Scotiabank lowered their target price on shares of Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a report on Monday, April 28th. Finally, Loop Capital lowered their price objective on Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.39.

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.