Shopify Inc. (NYSE:SHOP) Shares Acquired by Atria Investments Inc

Atria Investments Inc increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,520 shares of the software maker’s stock after buying an additional 8,695 shares during the period. Atria Investments Inc’s holdings in Shopify were worth $16,950,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SHOP. LRI Investments LLC increased its position in Shopify by 9.8% during the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock worth $94,000 after purchasing an additional 79 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Fullcircle Wealth LLC increased its position in Shopify by 2.7% during the first quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker’s stock worth $418,000 after purchasing an additional 110 shares during the last quarter. Seven Mile Advisory increased its position in Shopify by 2.3% during the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker’s stock worth $539,000 after purchasing an additional 114 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC increased its position in Shopify by 3.4% during the first quarter. Avidian Wealth Enterprises LLC now owns 3,533 shares of the software maker’s stock worth $337,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Mizuho dropped their price objective on shares of Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Barclays reduced their price objective on shares of Shopify from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. DA Davidson increased their price objective on shares of Shopify from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 16th. Truist Financial dropped their target price on shares of Shopify from $120.00 to $100.00 and set a “hold” rating on the stock in a report on Tuesday, May 6th. Finally, BMO Capital Markets began coverage on shares of Shopify in a report on Tuesday, May 6th. They issued an “outperform” rating and a $120.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.16.

Shopify Trading Up 0.1%

Shares of SHOP traded up $0.17 during midday trading on Thursday, hitting $122.38. The stock had a trading volume of 1,133,431 shares, compared to its average volume of 10,473,996. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The business has a 50-day simple moving average of $111.54 and a two-hundred day simple moving average of $105.74. The firm has a market cap of $158.77 billion, a P/E ratio of 78.95, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61.

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.