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

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allianz SE bought a new stake in shares of Shopify during the 4th quarter valued at about $27,000. PFG Private Wealth Management LLC grew its holdings in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Shopify in the 4th quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC raised its stake in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Mather Group LLC. boosted its position in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after acquiring an additional 184 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Benchmark reduced their price objective on shares of Shopify from $150.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. DA Davidson decreased their price objective on shares of Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Evercore ISI boosted their target price on Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Mizuho decreased their price target on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Citigroup raised their target price on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.11.

Shopify Stock Performance

Shares of Shopify stock traded up $2.46 during midday trading on Tuesday, reaching $110.26. 6,537,404 shares of the company's stock traded hands, compared to its average volume of 9,399,565. The company has a market cap of $142.77 billion, a price-to-earnings ratio of 71.14, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. The company's 50 day simple moving average is $96.72 and its 200 day simple moving average is $105.09. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

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.