Wealthfront Advisers LLC Buys 2,339 Shares of Shopify Inc. (NYSE:SHOP)

Wealthfront Advisers LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 14.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,074 shares of the software maker's stock after buying an additional 2,339 shares during the quarter. Wealthfront Advisers LLC's holdings in Shopify were worth $1,821,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital World Investors boosted its holdings 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 purchasing an additional 496,982 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Shopify by 1.7% in 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 acquiring an additional 781,162 shares during the last quarter. FMR LLC boosted its holdings in Shopify by 3.4% in the fourth 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 during the last quarter. Capital International Investors boosted its holdings in Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock valued at $3,883,039,000 after acquiring an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Trading Up 0.3%

NYSE:SHOP traded up $0.32 during trading hours on Friday, hitting $127.07. 8,468,342 shares of the stock traded hands, compared to its average volume of 9,288,445. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market cap of $164.86 billion, a price-to-earnings ratio of 81.98, a PEG ratio of 4.82 and a beta of 2.61. The firm has a 50 day moving average price of $110.52 and a 200 day moving average price of $105.38.

Analyst Ratings Changes

Several research analysts have commented on SHOP shares. National Bankshares cut their price objective on Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. The Goldman Sachs Group cut their price objective on Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Atb Cap Markets raised Shopify from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Scotiabank dropped their target price on Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Monday, April 28th. Finally, BNP Paribas Exane lowered Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 target price on the stock. in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.58.

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.