Henshaw Capital LLC Makes New $688,000 Investment in Shopify Inc. $SHOP

Henshaw Capital LLC purchased a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the first quarter, HoldingsChannel.com reports. The fund purchased 5,797 shares of the software maker’s stock, valued at approximately $688,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TBH Global Asset Management LLC increased its position in Shopify by 1.2% during the 4th quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 75 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Shopify by 13.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock valued at $72,000 after purchasing an additional 77 shares during the last quarter. WealthCollab LLC lifted its holdings in Shopify by 26.7% in the 4th quarter. WealthCollab LLC now owns 380 shares of the software maker’s stock valued at $61,000 after purchasing an additional 80 shares in the last quarter. Secure Asset Management LLC lifted its holdings in Shopify by 1.8% in the 4th quarter. Secure Asset Management LLC now owns 4,724 shares of the software maker’s stock valued at $760,000 after purchasing an additional 83 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC boosted its stake in shares of Shopify by 3.1% during the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 2,762 shares of the software maker’s stock worth $328,000 after purchasing an additional 84 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Benchmark reiterated a “buy” rating on shares of Shopify in a report on Wednesday. Canaccord Genuity Group reduced their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Finally, Bank of America assumed coverage on Shopify in a report on Tuesday, July 7th. They issued a “buy” rating and a $150.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.69.

Shopify Stock Down 4.3%

Shares of NASDAQ:SHOP opened at $117.15 on Friday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The company has a 50 day moving average of $116.58 and a two-hundred day moving average of $120.67. The company has a market capitalization of $152.02 billion, a price-to-earnings ratio of 115.99, a price-to-earnings-growth ratio of 2.53 and a beta of 2.58.

About Shopify

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.