Castlekeep Investment Advisors LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

Castlekeep Investment Advisors LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,441 shares of the software maker's stock, valued at approximately $1,323,000.

Several other large investors have also recently modified their holdings of the business. LRI Investments LLC raised its position in shares of Shopify by 9.8% in the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker's stock worth $94,000 after buying an additional 79 shares in the last quarter. Tidemark LLC boosted its position in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after acquiring an additional 90 shares during the last quarter. Howland Capital Management LLC grew its holdings in shares of Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock worth $526,000 after purchasing an additional 99 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Seven Mile Advisory increased its position in shares of Shopify by 2.3% in the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock worth $539,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Oppenheimer cut their price target on shares of Shopify from $150.00 to $125.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Cantor Fitzgerald cut their target price on shares of Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Scotiabank lowered their price target on Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Monday, April 28th. Loop Capital dropped their price target on Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Shopify from $124.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $115.37.

Shopify Stock Performance

Shares of SHOP traded up $0.85 on Thursday, reaching $107.96. The stock had a trading volume of 4,037,595 shares, compared to its average volume of 9,431,974. The firm has a market capitalization of $139.79 billion, a price-to-earnings ratio of 69.62, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. The company has a 50-day simple moving average of $95.45 and a 200-day simple moving average of $105.03. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

About Shopify

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.