Ladenburg Thalmann Financial Services Inc. Has $193,000 Position in Shopify Inc (US) (SHOP)

Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SH) by 55.4% during the fourth quarter, Holdings Channel reports. The firm owned 4,511 shares of the company’s stock after buying an additional 1,608 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Shopify Inc (US) were worth $193,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SHOP. Fusion Family Wealth LLC purchased a new stake in Shopify Inc (US) during the fourth quarter valued at $108,000. Advisor Group Inc. purchased a new stake in Shopify Inc (US) during the third quarter valued at $109,000. First Mercantile Trust Co. purchased a new stake in Shopify Inc (US) during the third quarter valued at $124,000. Foresters Asset Management Inc. boosted its stake in Shopify Inc (US) by 29.2% in the fourth quarter. Foresters Asset Management Inc. now owns 3,100 shares of the company’s stock valued at $133,000 after buying an additional 700 shares during the period. Finally, DIAM Co. Ltd. purchased a new stake in Shopify Inc (US) during the third quarter valued at $158,000. 69.10% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Shopify Inc (US) (NYSE:SHOP)

Shopify Inc (NYSE:SHOP) opened at 68.86 on Tuesday. Shopify Inc has a 52-week low of $24.96 and a 52-week high of $68.92. The company has a 50 day moving average of $58.72 and a 200-day moving average of $47.10. The stock’s market capitalization is $6.18 billion.

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Several equities analysts have recently commented on the stock. Summit Redstone upped their price objective on shares of Shopify Inc (US) from $48.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Robert W. Baird restated an “outperform” rating on shares of Shopify Inc (US) in a report on Thursday, January 12th. Vetr upgraded shares of Shopify Inc (US) from a “hold” rating to a “strong-buy” rating and set a $70.45 price objective on the stock in a report on Thursday, February 16th. Royal Bank of Canada restated a “buy” rating and issued a $63.00 price objective (up from $52.00) on shares of Shopify Inc (US) in a report on Monday, February 13th. Finally, Zacks Investment Research lowered shares of Shopify Inc (US) from a “hold” rating to a “strong sell” rating in a report on Thursday, February 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Shopify Inc (US) has a consensus rating of “Buy” and an average price target of $58.61.

About Shopify Inc (US)

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

5 Day Chart for NYSE:SHOP

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (US) (NYSE:SHOP) (TSE:SH).

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