Arkfeld Wealth Strategies L.L.C. Acquires 3,157 Shares of Shopify Inc. (NYSE:SHOP)

Arkfeld Wealth Strategies L.L.C. lifted its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 26.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,213 shares of the software maker's stock after buying an additional 3,157 shares during the period. Arkfeld Wealth Strategies L.L.C.'s holdings in Shopify were worth $1,390,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SHOP. Capital World Investors grew its stake in shares of Shopify by 0.9% during the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock worth $5,646,455,000 after buying an additional 496,982 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.7% during 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 acquiring an additional 781,162 shares in the last quarter. FMR LLC boosted its holdings in shares of Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after acquiring an additional 1,426,000 shares in the last quarter. Capital International Investors grew 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 worth $3,883,039,000 after acquiring an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings 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. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 6.1%

SHOP stock traded up $6.38 during trading on Friday, reaching $111.41. 8,729,612 shares of the stock were exchanged, compared to its average volume of 9,413,365. The firm's 50 day moving average is $95.74 and its 200 day moving average is $105.00. The firm has a market cap of $144.26 billion, a P/E ratio of 71.88, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SHOP. Robert W. Baird lifted their price target on Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. ATB Capital lifted their target price on shares of Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Evercore ISI raised their price target on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Shopify from $124.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $115.11.

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.