DSM Capital Partners LLC Takes $28,000 Position in Shopify Inc. (NYSE:SHOP)

DSM Capital Partners LLC acquired a new position in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 357 shares of the software maker’s stock, valued at approximately $28,000.

Other large investors also recently added to or reduced their stakes in the company. StoneCrest Wealth Management Inc. bought a new position in shares of Shopify in the fourth quarter worth about $1,164,000. Asset Management One Co. Ltd. lifted its holdings in Shopify by 4,007.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock valued at $2,807,000 after purchasing an additional 34,624 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in Shopify during the fourth quarter valued at approximately $433,000. Bleakley Financial Group LLC boosted its position in shares of Shopify by 18.5% in the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after purchasing an additional 1,681 shares during the period. Finally, Savant Capital LLC increased its stake in shares of Shopify by 1.8% in the fourth quarter. Savant Capital LLC now owns 10,425 shares of the software maker’s stock worth $812,000 after purchasing an additional 181 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SHOP shares. The Goldman Sachs Group upgraded shares of Shopify from a “neutral” rating to a “buy” rating and lifted their target price for the company from $67.00 to $74.00 in a research note on Wednesday, May 22nd. Wedbush reaffirmed a “neutral” rating and issued a $68.00 price objective on shares of Shopify in a research note on Tuesday, February 13th. Scotiabank cut their target price on Shopify from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, May 9th. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley raised shares of Shopify from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $74.00 to $85.00 in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $77.06.

Read Our Latest Research Report on Shopify

Shopify Trading Down 1.2 %

SHOP stock traded down $0.67 during midday trading on Monday, reaching $56.97. The company’s stock had a trading volume of 8,537,200 shares, compared to its average volume of 10,421,573. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The firm has a market capitalization of $73.42 billion, a price-to-earnings ratio of -335.12, a PEG ratio of 2.60 and a beta of 2.20. The stock has a fifty day simple moving average of $70.27 and a two-hundred day simple moving average of $74.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14.

Shopify Company 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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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