<div id="readability-page-1"><p>Baker Avenue Asset Management LP cut its stake in shares of  Shopify Inc. (NYSE:SHOP - Free Report) <span>TSE: SHOP<span></span></span> by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,589 shares of the software maker's stock after selling 2,671 shares during the quarter. Baker Avenue Asset Management LP's holdings in Shopify were worth $19,057,000 as of its most recent SEC filing.</p><ul><li>3 Retailers Poised to Outmaneuver Tariff and Recession Concerns</li></ul><p>Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of  Shopify in the 4th quarter valued at approximately $30,000.  Strategic Investment Solutions Inc. IL purchased a new position in  Shopify in the fourth quarter worth $46,000.  N.E.W. Advisory Services LLC acquired a new stake in  Shopify in the first quarter valued at $49,000.  FWL Investment Management LLC purchased a new stake in shares of  Shopify during the 4th quarter worth $56,000.  Finally, Clean Yield Group grew its stake in shares of  Shopify by 59.9% during the 1st quarter. Clean Yield Group now owns 582 shares of the software maker's stock worth $56,000 after purchasing an additional 218 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors. </p><h2>Shopify Price Performance</h2><p>Shares of NYSE:SHOP opened at $122.21 on Friday. The business has a 50-day moving average of $113.56 and a two-hundred day moving average of $106.44. The firm has a market capitalization of $158.55 billion, a PE ratio of 78.85, a P/E/G ratio of 4.82 and a beta of 2.61. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. </p><h2>Analyst Ratings Changes</h2><ul><li>Best Prime Day Ever? Here Are the Prime Winners Riding the Wave</li></ul><p>Several analysts recently commented on the stock. UBS Group  reiterated a &#34;hold&#34; rating on shares of Shopify in a research note on Friday, July 18th. Stifel Nicolaus lifted their price target on shares of Shopify from $100.00 to $110.00 and gave the company a &#34;hold&#34; rating in a research report on Tuesday, July 15th. DA Davidson boosted their price target on Shopify from $115.00 to $125.00 and gave the stock a &#34;buy&#34; rating in a research note on Monday, June 16th. CIBC raised their price objective on Shopify from $125.00 to $145.00 and gave the company an &#34;outperformer&#34; rating in a research note on Friday, July 18th. Finally, Barclays reduced their price objective on Shopify from $100.00 to $94.00 and set an &#34;equal weight&#34; rating for the company in a report on Friday, May 9th. One investment analyst  has rated the stock with a sell rating, eighteen have assigned  a hold rating, twenty-two have issued  a buy rating and two have assigned  a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of &#34;Moderate Buy&#34; and a consensus target price of $120.34.</p><p><b>View Our Latest Report on Shopify</b></p><h2>Shopify Company Profile</h2> (Free Report)<ul><li>Is Affirm Stock Buy Now, Profit Later or Buy Now, Pay Later? </li></ul><p>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.</p><h2>Featured Articles</h2><ul><li>Five stocks we like better than Shopify</li><li>Most active stocks: Dollar volume vs share volume</li><li>Newmont's Financial Strength Sets a High Bar for Gold Miners</li><li>What is the MACD Indicator and How to Use it in Your Trading</li><li>Golden Cross Alert: 3 Stocks With Serious Upside Potential</li><li>How to invest in marijuana stocks in 7 steps </li><li>Big Beat, Bigger Plans: AEP Stock Powers Up on Data Center Boom</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVNIT1A?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVNIT1A"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Shopify Right Now?</h2><p>Before you consider Shopify, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.</p><p>While Shopify currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

SHOP

<p>Baker Avenue Asset Management LP reduced its stake in Shopify Inc. (NYSE:SHOP) by 1.3% in Q1, now holding 199,589 shares valued at $19.06 million. Other institutional investors have also adjusted their positions in Shopify. The stock opened at $122.21, with a market cap of $158.55 billion and a PE ratio of 78.85. Analysts have mixed ratings, with a consensus rating of "Moderate Buy" and a target price of $120.34.</p>

Baker Avenue Asset Management LP Cuts Stock Position in Shopify Inc. (NYSE:SHOP)