K.J. Harrison & Partners Inc Has $1.01 Million Stake in Shopify Inc. $SHOP

K.J. Harrison & Partners Inc reduced its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 65.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,527 shares of the software maker’s stock after selling 16,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Shopify were worth $1,010,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kingdom Financial Group LLC. acquired a new position in Shopify during the 4th quarter worth $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify in the 4th quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shopify in the 4th quarter valued at $29,000. Lloyd Advisory Services LLC. bought a new stake in shares of Shopify during the fourth quarter worth $31,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Shopify during the fourth quarter worth $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NASDAQ:SHOP opened at $119.46 on Friday. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The firm has a market capitalization of $155.02 billion, a P/E ratio of 118.28, a P/E/G ratio of 3.28 and a beta of 2.58. The stock’s fifty day simple moving average is $111.33 and its 200-day simple moving average is $126.74.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SHOP. Canaccord Genuity Group cut their price target on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Shopify in a research report on Wednesday, May 6th. Robert W. Baird set a $150.00 price objective on Shopify in a report on Wednesday, May 6th. Barclays set a $126.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $140.00 target price (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.