4,672 Shares in Shopify Inc. (NYSE:SHOP) Bought by Brooklyn FI LLC

Brooklyn FI LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 4,672 shares of the software maker’s stock, valued at approximately $452,000.

Several other hedge funds have also recently modified their holdings of the stock. Brucke Financial Inc. acquired a new stake in shares of Shopify during the fourth quarter worth $718,000. Capital A Wealth Management LLC acquired a new stake in shares of Shopify during the fourth quarter worth $340,000. Integrated Advisors Network LLC lifted its holdings in shares of Shopify by 4.2% during the fourth quarter. Integrated Advisors Network LLC now owns 11,308 shares of the software maker’s stock worth $1,202,000 after purchasing an additional 458 shares during the period. Challenger Wealth Management acquired a new stake in shares of Shopify during the fourth quarter worth $213,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Shopify during the fourth quarter worth $1,975,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SHOP. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Mizuho cut their price objective on Shopify from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group increased their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, ATB Capital increased their price objective on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $115.37.

Shopify Trading Down 1.7%

Shopify stock opened at $101.51 on Tuesday. The stock has a market cap of $131.44 billion, a PE ratio of 65.49, a P/E/G ratio of 4.82 and a beta of 2.66. The stock has a 50-day moving average price of $95.29 and a 200 day moving average price of $105.00. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.