Shopify Inc. (NYSE:SHOP) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,059,585 shares of the software maker’s stock after acquiring an additional 38,616 shares during the period. Bessemer Group Inc. owned approximately 0.08% of Shopify worth $101,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JCIC Asset Management Inc. lifted its holdings in shares of Shopify by 5,951.3% during the first quarter. JCIC Asset Management Inc. now owns 45,990 shares of the software maker’s stock valued at $4,376,000 after purchasing an additional 45,230 shares during the last quarter. TABR Capital Management LLC purchased a new position in Shopify in the first quarter valued at about $323,000. Econ Financial Services Corp bought a new stake in shares of Shopify in the 1st quarter valued at approximately $731,000. Sava Infond d.o.o. increased its stake in shares of Shopify by 18.2% during the 1st quarter. Sava Infond d.o.o. now owns 1,300 shares of the software maker’s stock worth $124,000 after purchasing an additional 200 shares during the last quarter. Finally, Embree Financial Group increased its position in Shopify by 7.6% during the first quarter. Embree Financial Group now owns 2,456 shares of the software maker’s stock worth $234,000 after buying an additional 173 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 0.5%

NYSE:SHOP opened at $113.89 on Thursday. The stock has a 50-day moving average price of $102.49 and a two-hundred day moving average price of $104.82. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a market cap of $147.76 billion, a price-to-earnings ratio of 73.48, a PEG ratio of 4.82 and a beta of 2.63.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $110.00 target price on shares of Shopify in a research report on Tuesday, April 15th. National Bankshares decreased their target price on Shopify from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Morgan Stanley boosted their price target on shares of Shopify from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, May 9th. UBS Group dropped their target price on Shopify from $125.00 to $110.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Truist Financial cut their price target on shares of Shopify from $120.00 to $100.00 and set a “hold” rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five 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 an average target price of $115.66.

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.