Rathbones Group PLC Acquires 109,078 Shares of Shopify Inc. $SHOP

Rathbones Group PLC raised its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,510,859 shares of the software maker’s stock after buying an additional 109,078 shares during the quarter. Rathbones Group PLC’s holdings in Shopify were worth $179,217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pine Valley Investments Ltd Liability Co lifted its position in shares of Shopify by 6.1% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 12,967 shares of the software maker’s stock valued at $1,538,000 after acquiring an additional 743 shares during the period. Parallel Advisors LLC grew its holdings in Shopify by 8.0% in the first quarter. Parallel Advisors LLC now owns 25,763 shares of the software maker’s stock worth $3,056,000 after purchasing an additional 1,910 shares during the period. NewEdge Advisors LLC increased its stake in Shopify by 1.7% in the first quarter. NewEdge Advisors LLC now owns 88,957 shares of the software maker’s stock valued at $10,552,000 after purchasing an additional 1,475 shares in the last quarter. Caerus Investment Advisors LLC increased its stake in Shopify by 5.6% in the first quarter. Caerus Investment Advisors LLC now owns 1,688 shares of the software maker’s stock valued at $200,000 after purchasing an additional 90 shares in the last quarter. Finally, Dala Group LLC bought a new stake in Shopify in the first quarter valued at $233,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

NASDAQ:SHOP opened at $117.15 on Monday. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The company has a market cap of $152.02 billion, a PE ratio of 115.99, a PEG ratio of 2.53 and a beta of 2.58. The firm has a 50-day moving average of $116.58 and a 200-day moving average of $120.34.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SHOP shares. Citigroup reduced their target price on Shopify from $156.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Rothschild & Co Redburn set a $130.00 price target on Shopify and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Citizens Jmp cut their price target on Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Barclays set a $126.00 price objective on Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, National Bank Financial set a $155.00 price objective on Shopify and gave the company an “outperform” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $157.69.

Shopify Company 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.