Shopify Inc. (NYSE:SHOP) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC boosted its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 10.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,572 shares of the software maker's stock after buying an additional 7,953 shares during the period. Procyon Advisors LLC's holdings in Shopify were worth $7,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Capital World Investors raised its holdings in 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 during the period. Vanguard Group Inc. grew its holdings in Shopify by 1.7% in the 4th 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 last quarter. FMR LLC increased its position in Shopify by 3.4% in 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 period. Capital International Investors lifted its holdings in shares of Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after buying an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Shopify by 79.8% during 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 during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. National Bankshares reduced their price target on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. CIBC upped their target price on shares of Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Capital One Financial raised shares of Shopify from an "equal weight" rating to an "overweight" rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Barclays reduced their price target on Shopify from $100.00 to $94.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $115.11.

Shopify Stock Up 6.1%

Shopify stock traded up $6.38 during trading on Friday, reaching $111.41. The stock had a trading volume of 8,729,612 shares, compared to its average volume of 9,413,365. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock has a market cap of $144.26 billion, a PE ratio of 71.88, a P/E/G ratio of 4.82 and a beta of 2.66. The business has a 50 day moving average price of $95.74 and a 200 day moving average price of $105.00.

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.