Earned Wealth Advisors LLC Purchases 4,400 Shares of Shopify Inc. $SHOP

Earned Wealth Advisors LLC boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 60.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,727 shares of the software maker’s stock after purchasing an additional 4,400 shares during the quarter. Earned Wealth Advisors LLC’s holdings in Shopify were worth $1,391,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SHOP. Susquehanna initiated coverage on shares of Shopify in a report on Friday, July 10th. They set a “neutral” rating on the stock. Jefferies Financial Group upgraded shares of Shopify from a “hold” rating to a “buy” rating and increased their target price for the company from $140.00 to $160.00 in a report on Sunday, July 12th. Bank of America initiated coverage on shares of Shopify in a research report on Tuesday, July 7th. They set a “buy” rating and a $150.00 price target on the stock. UBS Group restated a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Finally, Citigroup downgraded shares of Shopify from a “market outperform” rating to a “neutral” rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $157.58.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $123.56 on Monday. The stock has a market capitalization of $160.34 billion, a PE ratio of 122.34, a P/E/G ratio of 2.68 and a beta of 2.58. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The business’s fifty day moving average price is $112.47 and its 200-day moving average price is $123.35.

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.