Kore Private Wealth LLC lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.2% during the second quarter, Holdings Channel reports. The institutional investor owned 294 shares of the software maker’s stock after purchasing an additional 41 shares during the quarter. Kore Private Wealth LLC’s holdings in Shopify were worth $430,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SHOP. Stonebridge Capital Advisors LLC acquired a new position in Shopify during the first quarter worth $30,000. Barrett Asset Management LLC acquired a new position in Shopify during the first quarter worth $34,000. Delos Wealth Advisors LLC acquired a new position in Shopify during the second quarter worth $35,000. Atlas Private Wealth Advisors acquired a new position in Shopify during the second quarter worth $37,000. Finally, JNBA Financial Advisors acquired a new position in Shopify during the second quarter worth $37,000. Hedge funds and other institutional investors own 60.06% of the company’s stock.
Shares of SHOP stock opened at $1,398.97 on Thursday. Shopify Inc. has a 12-month low of $875.00 and a 12-month high of $1,650.00. The firm has a market capitalization of $174.54 billion, a price-to-earnings ratio of 72.22, a price-to-earnings-growth ratio of 13.58 and a beta of 1.45. The business has a 50 day simple moving average of $1,465.16 and a 200 day simple moving average of $1,359.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 16.55 and a quick ratio of 16.55.
Several brokerages recently issued reports on SHOP. Oppenheimer lifted their price objective on Shopify from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Jefferies Financial Group lifted their price objective on Shopify from $1,675.00 to $1,800.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. TheStreet lowered Shopify from a “b-” rating to a “c+” rating in a research note on Tuesday, September 14th. Guggenheim reiterated a “hold” rating on shares of Shopify in a research note on Friday, August 27th. Finally, Wolfe Research boosted their price target on Shopify from $1,500.00 to $1,980.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $1,635.59.
Shopify Company Profile
Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.
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