von Borstel & Associates Inc. Purchases New Position in Shopify Inc. (NYSE:SHOP)

von Borstel & Associates Inc. purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,734 shares of the software maker’s stock, valued at approximately $165,000.

Several other institutional investors have also bought and sold shares of the stock. Allianz SE acquired a new position in Shopify in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC acquired a new position in Shopify in the fourth quarter worth $30,000. Mark Sheptoff Financial Planning LLC boosted its stake in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Shopify in the fourth quarter worth $46,000. Finally, FWL Investment Management LLC acquired a new position in Shopify in the fourth quarter worth $56,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group reduced their price objective on Shopify from $125.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Oppenheimer reduced their price objective on Shopify from $150.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Mizuho reduced their price objective on Shopify from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Cantor Fitzgerald restated a “neutral” rating and set a $91.00 target price on shares of Shopify in a research report on Wednesday, June 11th. Finally, Wedbush restated an “outperform” rating and set a $110.00 target price on shares of Shopify in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $115.66.

Shopify Price Performance

Shares of Shopify stock opened at $117.50 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The business has a 50-day moving average of $106.22 and a two-hundred day moving average of $104.77. The company has a market capitalization of $152.44 billion, a P/E ratio of 75.81, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63.

Shopify Company Profile

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.