K.J. Harrison & Partners Inc Has $1.01 Million Stock Holdings in Shopify Inc. $SHOP

K.J. Harrison & Partners Inc decreased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 65.2% during the 1st quarter, Holdings Channel reports. The fund owned 8,527 shares of the software maker’s stock after selling 16,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Shopify were worth $1,010,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after buying an additional 584 shares during the period. AQR Capital Management LLC raised its stake in Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after buying an additional 7,544 shares during the period. Sivia Capital Partners LLC raised its stake in Shopify by 6.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after buying an additional 506 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Shopify during the 2nd quarter worth $53,000. Finally, Main Street Financial Solutions LLC lifted its holdings in Shopify by 15.3% during the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after acquiring an additional 1,479 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $119.46 on Friday. The company has a fifty day moving average price of $111.33 and a 200 day moving average price of $126.74. The firm has a market cap of $155.02 billion, a PE ratio of 118.28, a PEG ratio of 3.28 and a beta of 2.58. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Wells Fargo & Company dropped their price target on Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Canaccord Genuity Group decreased their price objective on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, National Bank Financial lowered their target price on Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Profile

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.