ORG Wealth Partners LLC Has $1.97 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

ORG Wealth Partners LLC grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 214.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,157 shares of the software maker’s stock after purchasing an additional 13,747 shares during the period. Shopify comprises approximately 0.6% of ORG Wealth Partners LLC’s holdings, making the stock its 24th biggest holding. ORG Wealth Partners LLC’s holdings in Shopify were worth $1,968,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SHOP. Trivant Custom Portfolio Group LLC acquired a new position in Shopify during the 1st quarter worth about $569,000. Compass Capital Corp MA ADV acquired a new position in Shopify during the 1st quarter worth about $362,000. Janney Capital Management LLC acquired a new position in Shopify during the 1st quarter worth about $5,429,000. Institute for Wealth Management LLC. lifted its position in Shopify by 11.4% during the 1st quarter. Institute for Wealth Management LLC. now owns 10,819 shares of the software maker’s stock worth $1,033,000 after buying an additional 1,109 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its position in Shopify by 2.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 5,541 shares of the software maker’s stock worth $529,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $105.97 on Thursday. The firm’s 50 day simple moving average is $99.86 and its 200 day simple moving average is $104.96. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The company has a market capitalization of $137.48 billion, a price-to-earnings ratio of 68.37, a P/E/G ratio of 4.82 and a beta of 2.63.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHOP. Scotiabank reduced their price target 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. Benchmark reduced their price target on shares of Shopify from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group reduced their price target on shares of Shopify from $130.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Capital One Financial upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 8th. Finally, BNP Paribas Exane downgraded shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $115.66.

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.