Van ECK Associates Corp acquired additional 4,429 shares of Shopify Inc., thus increasing its holdings in shares by 153.6% in the first quarter. According to its latest disclosure with the SEC, the company now owns a total of 7,312 shares of Shopify. Inc of the total value of $4,943,000.
Recently, other large investors have also modified their holdings. While Western Pacific Wealth Management LP acquired a latest stake in Shopify shares of value $26,000, Parkside Financial Bank & Trust increased its position by 666.7% through the fourth quarter. After purchasing additional 20 shares through the period, Parkside Financial Bank & Trust now has a total of 23 shares of value $32,000.
GoalVest Advisory LLC acquired a latest stake through the first quarter of value $39,000. Valley National Advisers Inc. increased its holdings in Shopify shares by 392.3% through the first quarter. The company now owns 64 shares of Shopify’s stock value $43,000. Activest Wealth Management grew its holdings in Shopify shares by 266.7% through the first quarter. After purchasing 48 shares, the company now has total 66 shares of stock value $45,000. Also, Institutional investors now own 62.60% of the company’s stock.
Many equities research analysts have weighed in on the stock of Shopify. In a research report on June 30, StockNews.com upgraded Shopify shares to a “sell” rating. While Mizuho reduced their price goal on Shopify shares from $80.00 to $40.00, Royal Bank of Canada reduced price goal from $100.00 to $80.00. The latter also set an “outperform” rating for company in a report on May 6. Sumitomo Mitsui Financial Group also reduced their price goal from $53.00 to $40.00 on Shopify shares. Truist Financial also did same reducing it to $35.00. In July 28 report, the former set an “outperform” rating for Shopify whereas the latter set a “hold” rating in its July 5 report. Based on MarketBeat.com data, currently, Shopify has a median price goal of $72.49 and a median rating of “Hold”.
