Juncture Wealth Strategies LLC Invests $297,000 in Shopify Inc. (NYSE:SHOP)

Juncture Wealth Strategies LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the first quarter, Holdings Channel.com reports. The firm acquired 3,114 shares of the software maker’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC boosted its holdings in shares of Shopify by 145.0% in the 1st quarter. RFG Advisory LLC now owns 21,330 shares of the software maker’s stock worth $2,037,000 after purchasing an additional 12,624 shares in the last quarter. Capital Asset Advisory Services LLC boosted its holdings in Shopify by 42.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 6,497 shares of the software maker’s stock valued at $654,000 after acquiring an additional 1,932 shares during the period. Fulton Bank N.A. boosted its holdings in Shopify by 9.5% during the 1st quarter. Fulton Bank N.A. now owns 2,946 shares of the software maker’s stock valued at $281,000 after acquiring an additional 256 shares during the period. Merit Financial Group LLC boosted its holdings in Shopify by 6.8% during the 1st quarter. Merit Financial Group LLC now owns 20,034 shares of the software maker’s stock valued at $1,913,000 after acquiring an additional 1,273 shares during the period. Finally, Cypress Financial Planning LLC purchased a new stake in Shopify during the 1st quarter valued at about $239,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHOP. Benchmark dropped their target price on Shopify from $150.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Evercore ISI increased their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Capital One Financial upgraded Shopify from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 8th. Barclays dropped their target price on Shopify from $100.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday, May 9th. Finally, UBS Group dropped their price objective on Shopify from $125.00 to $110.00 and set a “neutral” rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $115.37.

Shopify Trading Down 0.6%

Shopify stock opened at $106.54 on Tuesday. The firm has a market cap of $137.95 billion, a price-to-earnings ratio of 68.74, a PEG ratio of 4.82 and a beta of 2.66. The stock has a fifty day simple moving average of $95.36 and a two-hundred day simple moving average of $105.02. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify 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.