Nichols & Pratt Advisers LLP MA Has $446,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Nichols & Pratt Advisers LLP MA cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,668 shares of the software maker’s stock after selling 1,832 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Shopify were worth $446,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC acquired a new position in Shopify during the first quarter valued at approximately $382,000. Bessemer Group Inc. raised its stake in Shopify by 3.8% in the first quarter. Bessemer Group Inc. now owns 1,059,585 shares of the software maker’s stock valued at $101,163,000 after buying an additional 38,616 shares during the period. Assenagon Asset Management S.A. raised its stake in Shopify by 1.1% in the first quarter. Assenagon Asset Management S.A. now owns 38,732 shares of the software maker’s stock valued at $3,694,000 after buying an additional 432 shares during the period. Johnson Investment Counsel Inc. raised its stake in Shopify by 2.9% in the first quarter. Johnson Investment Counsel Inc. now owns 5,541 shares of the software maker’s stock valued at $529,000 after buying an additional 158 shares during the period. Finally, Blair William & Co. IL raised its stake in Shopify by 2.1% in the fourth quarter. Blair William & Co. IL now owns 467,025 shares of the software maker’s stock valued at $49,659,000 after buying an additional 9,819 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 2.4%

NYSE SHOP opened at $117.50 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market cap of $152.44 billion, a price-to-earnings ratio of 75.81, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. The business’s fifty day moving average is $105.81 and its 200 day moving average is $104.78.

Analysts Set New Price Targets

SHOP has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Shopify from $124.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Benchmark dropped their price objective on Shopify from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company upped their price objective on Shopify from $107.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $91.00 target price on shares of Shopify in a research note on Wednesday, June 11th. Finally, KeyCorp lowered their target price on Shopify from $140.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.66.

About Shopify

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.