World Investment Advisors Has $2.74 Million Stock Holdings in Shopify Inc. $SHOP

World Investment Advisors decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,095 shares of the software maker’s stock after selling 4,232 shares during the period. World Investment Advisors’ holdings in Shopify were worth $2,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. bought a new position in shares of Shopify in the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new stake in shares of Shopify during the fourth quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shopify during the fourth quarter worth approximately $29,000. Lodestone Wealth Management LLC acquired a new position in Shopify in the fourth quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC lifted its holdings in Shopify by 82.4% in the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock valued at $31,000 after buying an additional 89 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 1.9%

Shares of SHOP traded up $2.23 on Tuesday, hitting $122.37. The company’s stock had a trading volume of 2,959,554 shares, compared to its average volume of 10,852,240. The firm’s fifty day moving average price is $111.33 and its 200-day moving average price is $126.51. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm has a market capitalization of $158.79 billion, a price-to-earnings ratio of 121.16, a P/E/G ratio of 3.28 and a beta of 2.58.

Analyst Upgrades and Downgrades

A number of analysts have commented on SHOP shares. Citigroup reaffirmed a “market outperform” rating on shares of Shopify in a report on Thursday, June 18th. Barclays set a $126.00 price target on Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. National Bank Financial decreased their price objective on Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Robert W. Baird set a $150.00 price objective on Shopify in a report on Wednesday, May 6th. Finally, BMO Capital Markets cut their target price on Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.06.

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.