Shopify Inc. (NYSE:SHOP) Shares Acquired by Sprott Inc.

by · The Cerbat Gem

Sprott Inc. raised its holdings in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 6.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,181 shares of the software maker’s stock after acquiring an additional 181 shares during the quarter. Sprott Inc.’s holdings in Shopify were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SHOP. Allianz SE purchased a new stake in shares of Shopify in the fourth quarter valued at $27,000. PFG Private Wealth Management LLC raised its position 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 buying an additional 256 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in Shopify in the 4th quarter worth about $30,000. Smithfield Trust Co boosted its position in Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after acquiring an additional 188 shares during the period. Finally, Dagco Inc. purchased a new position in Shopify during the 1st quarter valued at about $30,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHOP has been the subject of a number of research analyst reports. BNP Paribas Exane lowered shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research report on Monday, May 5th. Scotiabank lowered their price target on shares of Shopify from $120.00 to $90.00 and set a “sector perform” rating on the stock in a report on Monday, April 28th. KeyCorp cut their price objective on shares of Shopify from $140.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald reduced their price target on Shopify from $120.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Loop Capital lowered their target price 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. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.37.

View Our Latest Analysis on SHOP

Shopify Stock Performance

Shares of SHOP stock opened at $105.03 on Friday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock’s fifty day moving average price is $95.74 and its two-hundred day moving average price is $105.00. The company has a market cap of $136.00 billion, a PE ratio of 67.76, a P/E/G ratio of 4.82 and a beta of 2.66.

About Shopify

(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.

Read More