Shopify Inc. $SHOP is Gryphon Financial Partners LLC’s 9th Largest Position

Gryphon Financial Partners LLC grew its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,807 shares of the software maker’s stock after buying an additional 5,154 shares during the quarter. Shopify comprises 1.9% of Gryphon Financial Partners LLC’s investment portfolio, making the stock its 9th biggest holding. Gryphon Financial Partners LLC’s holdings in Shopify were worth $18,126,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Shopify by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after acquiring an additional 743,803 shares during the period. Norges Bank acquired a new position in shares of Shopify during the 4th quarter worth $2,611,797,000. Invesco Ltd. increased its holdings in shares of Shopify by 9.8% in the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Shopify by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Shopify by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after purchasing an additional 827,643 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SHOP. Susquehanna assumed coverage on shares of Shopify in a report on Friday, July 10th. They set a “neutral” rating on the stock. Stifel Nicolaus set a $150.00 target price on shares of Shopify and gave the company a “buy” rating in a report on Thursday, July 9th. Barclays set a $126.00 price target on shares of Shopify and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. BMO Capital Markets began coverage on Shopify in a report on Friday, July 10th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley cut Shopify from an “overweight” rating to a “buy” rating in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.58.

Shopify Stock Performance

Shopify stock opened at $123.56 on Friday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The company has a market capitalization of $160.34 billion, a price-to-earnings ratio of 122.34, a PEG ratio of 2.71 and a beta of 2.58. The stock has a fifty day moving average of $112.47 and a two-hundred day moving average of $123.66.

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.