Bogart Wealth LLC Purchases 10,196 Shares of Shopify Inc. $SHOP

Bogart Wealth LLC increased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 19.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,784 shares of the software maker’s stock after buying an additional 10,196 shares during the period. Bogart Wealth LLC’s holdings in Shopify were worth $7,329,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SHOP. Brighton Jones LLC boosted its position in shares of Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Shopify by 107.3% in the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after purchasing an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after purchasing an additional 506 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in Shopify in the second quarter valued at approximately $53,000. Finally, Main Street Financial Solutions LLC raised its stake in Shopify by 15.3% in the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after purchasing an additional 1,479 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock opened at $119.46 on Monday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The stock has a market capitalization 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. The company has a fifty day moving average of $111.33 and a 200-day moving average of $126.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SHOP shares. Robert W. Baird set a $150.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Citigroup reissued a “market outperform” rating on shares of Shopify in a research note on Thursday, June 18th. Weiss Ratings downgraded Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $180.00 price target on shares of Shopify in a research report on Tuesday, May 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of Shopify in a research note 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $157.17.

About Shopify

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.