Ferguson Wellman Capital Management Inc. Purchases 951 Shares of Shopify Inc. (NYSE:SHOP)

Ferguson Wellman Capital Management Inc. boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 38.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,401 shares of the software maker’s stock after purchasing an additional 951 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Shopify were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Allianz SE bought a new stake in Shopify in the fourth quarter valued at $27,000. PFG Private Wealth Management LLC raised its position in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Shopify in the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC raised its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in Shopify in the 4th quarter worth about $46,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the subject of several analyst reports. BNP Paribas Exane lowered shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a report on Monday, May 5th. KeyCorp lowered their target price on Shopify from $140.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price target on Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. BNP Paribas downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Wedbush reiterated an “outperform” rating and set a $110.00 target price on shares of Shopify in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.39.

Shopify Stock Performance

Shares of SHOP stock opened at $105.34 on Friday. The stock’s 50 day simple moving average is $98.64 and its 200 day simple moving average is $105.09. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market capitalization of $136.40 billion, a price-to-earnings ratio of 67.96, a PEG ratio of 4.82 and a beta of 2.63.

Shopify 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.