Continuum Advisory LLC Raises Position in Shopify Inc. (NYSE:SHOP)

by · The Cerbat Gem

Continuum Advisory LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 234.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 843 shares of the software maker’s stock after acquiring an additional 591 shares during the quarter. Continuum Advisory LLC’s holdings in Shopify were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of SHOP. Tallon Kerry Patrick bought a new stake in shares of Shopify during the 4th quarter valued at $230,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Shopify by 21.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,418 shares of the software maker’s stock valued at $257,000 after purchasing an additional 435 shares during the period. Koshinski Asset Management Inc. bought a new stake in shares of Shopify during the 4th quarter valued at $212,000. Pure Financial Advisors LLC bought a new stake in shares of Shopify during the 4th quarter valued at $259,000. Finally, Sheets Smith Wealth Management bought a new stake in shares of Shopify during the 4th quarter valued at $447,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on SHOP shares. Morgan Stanley raised their price objective on shares of Shopify from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Jefferies Financial Group decreased their price objective 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. Loop Capital decreased their price target on shares of Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Citigroup boosted their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.37.

View Our Latest Analysis on Shopify

Shopify Price Performance

Shopify stock opened at $103.29 on Friday. The stock has a market cap of $133.74 billion, a price-to-earnings ratio of 66.64, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a 50-day moving average of $95.14 and a two-hundred day moving average of $104.46.

Shopify Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP).