Insigneo Advisory Services LLC Acquires 1,940 Shares of Shopify Inc. (NYSE:SHOP)

Insigneo Advisory Services LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,597 shares of the software maker’s stock after buying an additional 1,940 shares during the period. Insigneo Advisory Services LLC’s holdings in Shopify were worth $2,826,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Allianz SE purchased a new position in Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC raised its position in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Shopify in the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC raised its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in Shopify in the 4th quarter worth about $46,000. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $108.37 on Tuesday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a market capitalization of $140.60 billion, a price-to-earnings ratio of 69.92, a PEG ratio of 4.82 and a beta of 2.63. The business has a 50 day simple moving average of $99.26 and a two-hundred day simple moving average of $104.94.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SHOP. BNP Paribas lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 5th. National Bankshares decreased their target price on Shopify from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. DA Davidson boosted their target price on Shopify from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday. Scotiabank decreased their target price on Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a research report on Monday, April 28th. Finally, BNP Paribas Exane lowered shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $115.66.

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.