Fiduciary Alliance LLC Increases Stake in Shopify Inc. (NYSE:SHOP)

Fiduciary Alliance LLC increased its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,446 shares of the software maker's stock after acquiring an additional 2,581 shares during the quarter. Fiduciary Alliance LLC's holdings in Shopify were worth $1,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Capital World Investors raised its position in shares of Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock worth $5,646,455,000 after acquiring an additional 496,982 shares in the last quarter. Vanguard Group Inc. lifted its position in Shopify by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after buying an additional 781,162 shares during the period. FMR LLC lifted its position in Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after buying an additional 1,426,000 shares during the period. Capital International Investors boosted its holdings in shares of 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 grew its position in shares of 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 buying an additional 7,316,862 shares during the period. Institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BNP Paribas lowered shares of Shopify from a "strong-buy" rating to a "hold" rating in a report on Monday, May 5th. Wells Fargo & Company lifted their price objective on Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Benchmark cut their target price on Shopify from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Jefferies Financial Group dropped their target price on shares of Shopify from $130.00 to $110.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, DA Davidson reduced their price target on shares of Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.37.

Shopify Trading Up 1.4%

Shares of SHOP traded up $1.45 during trading hours on Thursday, reaching $105.03. 11,021,897 shares of the stock traded hands, compared to its average volume of 9,414,378. The company has a market cap of $136.00 billion, a P/E ratio of 67.76, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. The company's 50-day moving average price is $95.55 and its two-hundred day moving average price is $105.01. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

Shopify 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.