Investors Asset Management of Georgia Inc. GA ADV Invests $591,000 in Shopify Inc. $SHOP

Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,985 shares of the software maker’s stock, valued at approximately $591,000.

A number of other large investors have also bought and sold shares of SHOP. Kingdom Financial Group LLC. bought a new position in shares of Shopify during the 4th quarter worth about $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify in the 4th quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify in the 4th quarter valued at about $29,000. Lodestone Wealth Management LLC bought a new stake in Shopify in the 4th quarter valued at about $31,000. Finally, Sound Income Strategies LLC raised its stake in Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $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 Performance

NASDAQ:SHOP opened at $119.46 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The firm has a 50-day moving average price of $111.33 and a two-hundred day moving average price of $126.74. The firm has a market cap of $155.02 billion, a price-to-earnings ratio of 118.28, a price-to-earnings-growth ratio of 3.28 and a beta of 2.58.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SHOP. Jefferies Financial Group reiterated a “hold” rating and issued a $140.00 price target (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Wells Fargo & Company reduced their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Royal Bank Of Canada restated an “outperform” rating and set a $170.00 price target on shares of Shopify in a research note on Wednesday, May 6th. BMO Capital Markets lowered their price objective on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group lowered their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.17.

Shopify Company 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.