Baer Investment Advisory LLC Lowers Stake in Shopify Inc. $SHOP

Baer Investment Advisory LLC lessened its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 82.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,888 shares of the software maker’s stock after selling 8,940 shares during the period. Baer Investment Advisory LLC’s holdings in Shopify were worth $224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in Shopify by 37.1% during the 4th quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock worth $13,051,000 after purchasing an additional 21,945 shares during the period. Triasima Portfolio Management inc. increased its stake in Shopify by 11.0% in the fourth quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock valued at $29,398,000 after purchasing an additional 18,028 shares during the period. Assetmark Inc. increased its stake in Shopify by 6.7% in the fourth quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after purchasing an additional 13,415 shares during the period. SG Americas Securities LLC increased its stake in Shopify by 286.6% in the fourth quarter. SG Americas Securities LLC now owns 508,723 shares of the software maker’s stock valued at $81,889,000 after purchasing an additional 377,129 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Shopify by 12.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock valued at $84,689,000 after buying an additional 59,745 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 price target on shares of Shopify in a report on Wednesday, May 6th. Robert W. Baird set a $150.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. DA Davidson lowered their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group dropped their target price on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Two equities research 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. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $119.46 on Monday. The business’s fifty day moving average price is $111.33 and its two-hundred day moving average price is $126.51. The stock has a market cap of $155.02 billion, a PE ratio of 118.28, a price-to-earnings-growth ratio of 3.28 and a beta of 2.58. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19.

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.