Keybank National Association OH Has $2.89 Million Stock Holdings in Shopify Inc. $SHOP

Keybank National Association OH boosted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 45.2% in the first quarter, HoldingsChannel reports. The firm owned 24,359 shares of the software maker’s stock after purchasing an additional 7,585 shares during the quarter. Keybank National Association OH’s holdings in Shopify were worth $2,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. First Affirmative Financial Network boosted its holdings in shares of Shopify by 3.4% during the 3rd quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock worth $338,000 after buying an additional 75 shares during the period. TBH Global Asset Management LLC lifted its position in Shopify by 1.2% during the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after acquiring an additional 75 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Shopify by 13.9% during the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after acquiring an additional 77 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of Shopify by 2.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock worth $509,000 after acquiring an additional 80 shares during the period. Finally, Pacific Sage Partners LLC boosted its holdings in shares of Shopify by 3.9% during the fourth quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock worth $343,000 after acquiring an additional 80 shares during the period. 69.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SHOP. Citigroup reiterated a “market outperform” rating on shares of Shopify in a research note on Thursday, June 18th. UBS Group restated a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Piper Sandler reiterated 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. Finally, Wells Fargo & Company dropped their target price on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Two 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 data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $157.17.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $119.46 on Monday. The business’s 50 day simple moving average is $111.33 and its 200 day simple moving average is $126.51. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a market capitalization of $155.02 billion, a P/E ratio of 118.28, a P/E/G ratio of 3.28 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.