Montrusco Bolton Investments Inc. Has $3.15 Million Stake in Shopify Inc. $SHOP

Montrusco Bolton Investments Inc. reduced its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 30.2% during the first quarter, Holdings Channel.com reports. The firm owned 26,612 shares of the software maker’s stock after selling 11,500 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Shopify were worth $3,148,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kingdom Financial Group LLC. acquired a new position in Shopify during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new position in shares of Shopify during the fourth quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shopify in the 4th quarter worth about $29,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Shopify in the 4th quarter worth about $31,000. Finally, Lodestone Wealth Management LLC bought a new position in Shopify in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP stock opened at $119.46 on Friday. The stock has a market cap of $155.02 billion, a P/E ratio of 118.28, a P/E/G ratio of 3.28 and a beta of 2.58. The stock’s fifty day simple moving average is $111.33 and its two-hundred day simple moving average is $126.74. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $180.00 price objective on shares of Shopify in a report on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Citigroup reaffirmed a “market outperform” rating on shares of Shopify in a report on Thursday, June 18th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average 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.