Shopify Inc. (NYSE:SHOP) Shares Bought by Somerset Trust Co

Somerset Trust Co boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,477 shares of the software maker’s stock after buying an additional 599 shares during the quarter. Somerset Trust Co’s holdings in Shopify were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital World Investors lifted its holdings in shares of Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after purchasing an additional 496,982 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. FMR LLC lifted its holdings in shares of Shopify by 3.4% in the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Capital International Investors lifted its holdings in shares of Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after purchasing an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on SHOP. CIBC upped their price target on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Mizuho reduced their price target on shares of Shopify from $110.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Evercore ISI upped their price target on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Citigroup upped their price target on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, DA Davidson reduced their price target on shares of Shopify from $150.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 14th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.37.

Shopify Stock Down 2.5%

Shopify stock opened at $104.97 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a fifty day moving average of $95.31 and a 200-day moving average of $105.13. The firm has a market capitalization of $135.92 billion, a P/E ratio of 67.72, a PEG ratio of 4.82 and a beta of 2.66.

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.