Shopify Inc. (NYSE:SHOP) Shares Acquired by Creekmur Asset Management LLC

Creekmur Asset Management LLC increased its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 58.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,736 shares of the software maker's stock after buying an additional 5,782 shares during the period. Creekmur Asset Management LLC's holdings in Shopify were worth $1,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors boosted its stake in Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after acquiring an additional 496,982 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. FMR LLC grew its stake in Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after buying an additional 1,426,000 shares during the last quarter. Capital International Investors increased its position in Shopify by 2.7% during the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock valued at $3,883,039,000 after buying an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

Shares of SHOP traded up $0.32 during mid-day trading on Friday, hitting $127.07. 8,468,342 shares of the company's stock were exchanged, compared to its average volume of 9,278,032. The stock's 50-day moving average is $109.81 and its 200-day moving average is $105.25. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The company has a market cap of $164.86 billion, a price-to-earnings ratio of 81.98, a P/E/G ratio of 4.82 and a beta of 2.61.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group dropped their price target on Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Cantor Fitzgerald restated a "neutral" rating and issued a $91.00 price objective on shares of Shopify in a research note on Wednesday, June 11th. Oppenheimer decreased their target price on Shopify from $150.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial cut their price target on shares of Shopify from $120.00 to $100.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and a consensus price target of $117.58.

Shopify Company Profile

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.