Sivia Capital Partners LLC Buys 281 Shares of Shopify Inc. (NYSE:SHOP)

Sivia Capital Partners LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,684 shares of the software maker’s stock after purchasing an additional 281 shares during the quarter. Sivia Capital Partners LLC’s holdings in Shopify were worth $734,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fiduciary Planning LLC increased its holdings in shares of Shopify by 50.8% during the 1st quarter. Fiduciary Planning LLC now owns 8,931 shares of the software maker’s stock worth $853,000 after purchasing an additional 3,010 shares during the period. Gateway Investment Advisers LLC increased its holdings in shares of Shopify by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 49,583 shares of the software maker’s stock worth $4,734,000 after purchasing an additional 169 shares during the period. Harrington Investments INC increased its holdings in shares of Shopify by 3.0% during the 1st quarter. Harrington Investments INC now owns 4,952 shares of the software maker’s stock worth $473,000 after purchasing an additional 145 shares during the period. StoneCrest Wealth Management Inc. increased its holdings in shares of Shopify by 2.2% during the 1st quarter. StoneCrest Wealth Management Inc. now owns 11,064 shares of the software maker’s stock worth $1,056,000 after purchasing an additional 239 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. increased its holdings in shares of Shopify by 26.2% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,213 shares of the software maker’s stock worth $1,390,000 after purchasing an additional 3,157 shares during the period. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. DA Davidson lowered their target price on shares of Shopify from $150.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. BMO Capital Markets assumed coverage on shares of Shopify in a research note on Tuesday, May 6th. They issued an “outperform” rating and a $120.00 target price on the stock. The Goldman Sachs Group lowered their target price on shares of Shopify from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Canaccord Genuity Group upped their target price on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, ATB Capital upped their target price on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.11.

Shopify Price Performance

Shares of NYSE SHOP opened at $111.41 on Friday. The company’s 50 day simple moving average is $96.02 and its 200 day simple moving average is $105.06. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market capitalization of $144.26 billion, a P/E ratio of 71.88, a P/E/G ratio of 4.82 and a beta of 2.63.

About Shopify

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.