Souders Financial Advisors Has $719,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Souders Financial Advisors lessened its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 24.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,530 shares of the software maker's stock after selling 2,403 shares during the quarter. Souders Financial Advisors' holdings in Shopify were worth $719,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. J.W. Cole Advisors Inc. grew its position in Shopify by 111.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 41,602 shares of the software maker's stock worth $3,972,000 after acquiring an additional 21,925 shares during the last quarter. Aspen Capital Management LLC bought a new stake in Shopify during the 1st quarter worth $220,000. Kestra Private Wealth Services LLC raised its position in Shopify by 16.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 51,694 shares of the software maker's stock worth $4,936,000 after purchasing an additional 7,136 shares during the last quarter. Fountainhead AM LLC raised its position in Shopify by 16.8% during the 1st quarter. Fountainhead AM LLC now owns 4,639 shares of the software maker's stock worth $443,000 after purchasing an additional 666 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in Shopify by 8.7% during the 1st quarter. Private Advisor Group LLC now owns 60,718 shares of the software maker's stock worth $5,796,000 after purchasing an additional 4,869 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SHOP. JPMorgan Chase & Co. lowered their target price on Shopify from $124.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Mizuho lowered their price objective on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Atb Cap Markets raised Shopify from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Cantor Fitzgerald reissued a "neutral" rating and issued a $91.00 price objective on shares of Shopify in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group lowered their price objective on Shopify from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.58.

Shopify Price Performance

Shares of SHOP stock opened at $127.07 on Friday. The company's fifty day simple moving average is $110.52 and its two-hundred day simple moving average is $105.38. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a market capitalization of $164.86 billion, a price-to-earnings ratio of 81.98, a PEG ratio of 4.82 and a beta of 2.61.

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.

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