Mather Group LLC. Has $87,000 Stake in Shopify Inc. (NYSE:SHOP)

Mather Group LLC. grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 127.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 912 shares of the software maker’s stock after buying an additional 511 shares during the period. Mather Group LLC.’s holdings in Shopify were worth $87,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Allianz SE acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Shopify during the fourth quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC increased its stake in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Shopify during the fourth quarter worth approximately $46,000. Finally, FWL Investment Management LLC bought a new position in shares of Shopify during the fourth quarter worth approximately $56,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 2.4%

NYSE SHOP opened at $117.50 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market cap of $152.44 billion, a price-to-earnings ratio of 75.81, a price-to-earnings-growth ratio of 4.82 and a beta of 2.61. The business’s fifty day moving average is $106.22 and its 200 day moving average is $104.73.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $91.00 target price on shares of Shopify in a research note on Wednesday, June 11th. Loop Capital lowered their target price on Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Atb Cap Markets upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 8th. Royal Bank Of Canada lowered their target price on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company increased their target price on Shopify from $107.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.66.

Shopify Company 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.