Aprio Wealth Management LLC Has $372,000 Stake in Shopify Inc. (NYSE:SHOP)

Aprio Wealth Management LLC raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,502 shares of the software maker’s stock after acquiring an additional 555 shares during the quarter. Aprio Wealth Management LLC’s holdings in Shopify were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BOKF NA lifted its holdings in Shopify by 36.2% during the 2nd quarter. BOKF NA now owns 7,794 shares of the software maker’s stock valued at $515,000 after purchasing an additional 2,072 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Shopify by 23.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 26,582 shares of the software maker’s stock worth $1,756,000 after buying an additional 5,026 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Shopify by 6.5% during the 2nd quarter. Parallel Advisors LLC now owns 23,128 shares of the software maker’s stock worth $1,528,000 after buying an additional 1,419 shares during the period. Wealthspire Advisors LLC grew its stake in Shopify by 291.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 13,408 shares of the software maker’s stock valued at $886,000 after buying an additional 9,987 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Shopify by 93.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,794,411 shares of the software maker’s stock valued at $118,521,000 after acquiring an additional 867,431 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 2.0 %

SHOP opened at $101.67 on Tuesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $120.72. The company has a fifty day moving average of $107.82 and a 200-day moving average of $84.79. The stock has a market cap of $131.37 billion, a PE ratio of 95.02, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SHOP shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Piper Sandler lifted their target price on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Robert W. Baird upped their price target on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Barclays lifted their price objective on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

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.