Oppenheimer & Co. Inc. Has $3.53 Million Stake in Shopify Inc. (NYSE:SHOP)

Oppenheimer & Co. Inc. lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 36.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,010 shares of the software maker’s stock after purchasing an additional 9,916 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Shopify were worth $3,534,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LRI Investments LLC grew its position in Shopify by 9.8% in the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock valued at $94,000 after acquiring an additional 79 shares during the period. Tidemark LLC grew its position in Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after acquiring an additional 90 shares during the period. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Seven Mile Advisory grew its position in Shopify by 2.3% in the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker’s stock valued at $539,000 after acquiring an additional 114 shares during the period. Finally, Accurate Wealth Management LLC grew its position in Shopify by 4.0% in the first quarter. Accurate Wealth Management LLC now owns 3,408 shares of the software maker’s stock valued at $325,000 after acquiring an additional 131 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $110.00 price target on shares of Shopify in a research report on Tuesday, April 15th. Mizuho lowered their price target on Shopify from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Capital One Financial upgraded Shopify from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 8th. Benchmark decreased their target price on Shopify from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $91.00 target price on shares of Shopify in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $115.66.

Shopify Price Performance

NYSE SHOP opened at $113.89 on Thursday. The firm has a market cap of $147.76 billion, a P/E ratio of 73.48, a P/E/G ratio of 4.82 and a beta of 2.63. The stock’s 50-day moving average is $102.49 and its 200-day moving average is $104.82. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

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.