Huntington National Bank Maintains Stake in Shopify Inc (US) (SHOP)

Huntington National Bank held its position in shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SH) during the first quarter, Holdings Channel reports. The fund owned 23,045 shares of the software maker’s stock at the end of the first quarter. Huntington National Bank’s holdings in Shopify Inc (US) were worth $1,569,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Scge Management L.P. bought a new position in shares of Shopify Inc (US) during the fourth quarter worth $37,297,000. The Manufacturers Life Insurance Company bought a new position in shares of Shopify Inc (US) during the third quarter worth $37,184,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Shopify Inc (US) by 53.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,635,131 shares of the software maker’s stock worth $70,033,000 after buying an additional 569,800 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of Shopify Inc (US) during the third quarter worth $22,282,000. Finally, Bank of New York Mellon Corp raised its position in shares of Shopify Inc (US) by 106.8% in the third quarter. Bank of New York Mellon Corp now owns 954,041 shares of the software maker’s stock worth $40,948,000 after buying an additional 492,619 shares during the last quarter. 69.10% of the stock is currently owned by hedge funds and other institutional investors.

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

Shopify Inc (NYSE:SHOP) traded up 0.21% during mid-day trading on Friday, reaching $76.22. 1,432,553 shares of the company’s stock traded hands. The company has a 50 day moving average price of $67.36 and a 200-day moving average price of $51.66. Shopify Inc has a 12 month low of $24.96 and a 12 month high of $77.79. The stock’s market cap is $6.84 billion.

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A number of research analysts have weighed in on SHOP shares. Zacks Investment Research lowered shares of Shopify Inc (US) from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 23rd. Vetr lowered shares of Shopify Inc (US) from a “strong-buy” rating to a “buy” rating and set a $79.10 price target on the stock. in a research note on Tuesday, March 28th. BTIG Research reissued a “buy” rating and issued a $75.00 price objective (up previously from $65.00) on shares of Shopify Inc (US) in a research report on Tuesday, March 21st. Pacific Crest boosted their price objective on shares of Shopify Inc (US) from $66.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 21st. Finally, Barclays PLC started coverage on shares of Shopify Inc (US) in a research report on Tuesday, March 28th. They issued an “equal weight” rating and a $64.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $60.55.

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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