Jeppson Wealth Management LLC Sells 148 Shares of Shopify Inc. (NYSE:SHOP)

Jeppson Wealth Management LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,079 shares of the software maker’s stock after selling 148 shares during the quarter. Shopify comprises 0.9% of Jeppson Wealth Management LLC’s portfolio, making the stock its 25th largest holding. Jeppson Wealth Management LLC’s holdings in Shopify were worth $2,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOP. Allianz SE acquired a new position in Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC boosted its holdings in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Shopify in the fourth quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC grew its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Shopify in the fourth quarter worth about $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $113.65 on Friday. The company has a 50 day moving average price of $103.68 and a 200 day moving average price of $104.80. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a market capitalization of $147.45 billion, a PE ratio of 73.32, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SHOP shares. Scotiabank decreased their target price on Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on Shopify from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. BNP Paribas downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 5th. The Goldman Sachs Group cut their target price 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. Finally, Truist Financial reduced 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 research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $115.66.

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.