Fiduciary Planning LLC Purchases 3,010 Shares of Shopify Inc. (NYSE:SHOP)

Fiduciary Planning LLC boosted its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 50.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,931 shares of the software maker's stock after purchasing an additional 3,010 shares during the quarter. Fiduciary Planning LLC's holdings in Shopify were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Gateway Investment Advisers LLC grew its holdings in Shopify by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 49,583 shares of the software maker's stock worth $4,734,000 after acquiring an additional 169 shares during the period. Harrington Investments INC lifted its stake in shares of Shopify by 3.0% in the 1st quarter. Harrington Investments INC now owns 4,952 shares of the software maker's stock valued at $473,000 after purchasing an additional 145 shares during the period. StoneCrest Wealth Management Inc. boosted its position in shares of Shopify by 2.2% in the 1st quarter. StoneCrest Wealth Management Inc. now owns 11,064 shares of the software maker's stock worth $1,056,000 after purchasing an additional 239 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Shopify by 26.2% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,213 shares of the software maker's stock worth $1,390,000 after purchasing an additional 3,157 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its stake in shares of Shopify by 11.3% during the first quarter. SeaCrest Wealth Management LLC now owns 4,820 shares of the software maker's stock worth $460,000 after purchasing an additional 488 shares during the period. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on SHOP shares. BMO Capital Markets initiated coverage on Shopify in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $120.00 target price on the stock. Phillip Securities cut Shopify from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 17th. Jefferies Financial Group cut their price target on shares of Shopify from $130.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Atb Cap Markets upgraded shares of Shopify from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Finally, UBS Group lowered their target price on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $115.11.

Shopify Stock Performance

NYSE:SHOP opened at $111.41 on Friday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market cap of $144.26 billion, a P/E ratio of 71.88, a P/E/G ratio of 4.82 and a beta of 2.66. The stock's 50-day simple moving average is $96.02 and its 200 day simple moving average is $105.05.

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.

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.