J.Safra Asset Management Corp Purchases 980 Shares of Shopify Inc. (NYSE:SHOP)

by · The Markets Daily

J.Safra Asset Management Corp raised its position in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 71.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,356 shares of the software maker’s stock after acquiring an additional 980 shares during the quarter. J.Safra Asset Management Corp’s holdings in Shopify were worth $225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SHOP. Henry James International Management Inc. raised its position in Shopify by 1.1% during the 1st quarter. Henry James International Management Inc. now owns 158,309 shares of the software maker’s stock worth $15,115,000 after buying an additional 1,672 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings 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 acquiring an additional 116 shares during the period. Essex Financial Services Inc. purchased a new stake in Shopify in the 1st quarter worth approximately $364,000. Sovran Advisors LLC purchased a new stake in Shopify during the first quarter worth $245,000. Finally, Joel Isaacson & Co. LLC purchased a new position in Shopify during the first quarter worth approximately $223,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NYSE:SHOP opened at $113.65 on Monday. The firm has a market capitalization of $147.45 billion, a PE ratio of 73.32, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The business has a 50-day moving average of $103.68 and a two-hundred day moving average of $104.64.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SHOP. DA Davidson raised their price target 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 price objective on shares of Shopify from $120.00 to $100.00 and set a “hold” rating for the company in a research note on Tuesday, May 6th. Barclays lowered their target price on Shopify from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Atb Cap Markets upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. Finally, Morgan Stanley raised their price objective on Shopify from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.66.

View Our Latest Report on Shopify

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).