Telemark Asset Management LLC Has $19.32 Million Stake in Shopify Inc. $SHOP

by · The Markets Daily

Telemark Asset Management LLC lifted its stake in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 30.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,000 shares of the software maker’s stock after purchasing an additional 30,000 shares during the quarter. Shopify accounts for 1.8% of Telemark Asset Management LLC’s portfolio, making the stock its 22nd largest position. Telemark Asset Management LLC’s holdings in Shopify were worth $19,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Twin Peaks Wealth Advisors LLC increased its stake in Shopify by 1.7% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after buying an additional 59 shares during the period. Accurate Wealth Management LLC increased its stake in shares of Shopify by 2.0% in the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after acquiring an additional 67 shares during the last quarter. Moloney Securities Asset Management LLC raised its holdings in shares of Shopify by 1.8% during the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock worth $587,000 after acquiring an additional 70 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its position in Shopify by 0.9% during the third quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after purchasing an additional 75 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $126.20 on Friday. The stock’s 50 day simple moving average is $145.96 and its 200 day simple moving average is $150.69. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company has a market capitalization of $164.29 billion, a price-to-earnings ratio of 135.70, a PEG ratio of 4.60 and a beta of 2.83.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Moffett Nathanson raised Shopify from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Monday, February 9th. Wells Fargo & Company set a $191.00 price target on Shopify and gave the company an “overweight” rating in a research note on Thursday, February 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $126.00 price objective (down previously from $181.00) on shares of Shopify in a report on Thursday, February 12th. Benchmark cut their price objective on shares of Shopify from $195.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Royal Bank Of Canada set a $170.00 target price on shares of Shopify and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $162.64.

Get Our Latest Stock Report on SHOP

Shopify Company Profile

(Free Report)

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.

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