Leonteq Securities AG Boosts Stock Position in Shopify Inc. $SHOP

Leonteq Securities AG lifted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 74.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,831 shares of the software maker’s stock after purchasing an additional 10,570 shares during the quarter. Leonteq Securities AG’s holdings in Shopify were worth $3,013,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. acquired a new position in Shopify during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify in the 4th quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shopify in the 4th quarter worth $29,000. Lloyd Advisory Services LLC. purchased a new position in shares of Shopify during the 4th quarter worth $31,000. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Shopify during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the topic of several recent research reports. National Bank Financial lowered their price target on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Piper Sandler restated an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Canaccord Genuity Group reduced their target price on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. UBS Group reiterated a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Stock Down 1.8%

Shares of Shopify stock opened at $119.46 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The business’s fifty day simple moving average is $111.58 and its 200-day simple moving average is $126.79. The firm has a market cap of $155.02 billion, a PE ratio of 118.28, a price-to-earnings-growth ratio of 3.34 and a beta of 2.58.

Shopify Company 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.