White Knight Strategic Wealth Advisors LLC acquired a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,300 shares of the software maker's stock, valued at approximately $351,000.
Other large investors have also bought and sold shares of the company. Capital World Investors boosted 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 valued at $5,646,455,000 after purchasing an additional 496,982 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Shopify by 1.7% during 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 purchasing an additional 781,162 shares in the last quarter. FMR LLC boosted its stake in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock valued at $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Capital International Investors boosted its stake 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 valued at $3,883,039,000 after purchasing an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Shopify by 79.8% during 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 purchasing an additional 7,316,862 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. National Bankshares cut their price target on Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Barclays cut their price target on Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Wedbush reissued an "outperform" rating and set a $110.00 price target on shares of Shopify in a research note on Tuesday, April 15th. Piper Sandler raised their price objective on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Finally, TD Securities raised their price objective on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. One 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $115.37.
View Our Latest Research Report on SHOP
Shopify Stock Performance
Shares of NYSE SHOP traded down $1.78 during midday trading on Friday, hitting $101.51. 5,996,877 shares of the stock traded hands, compared to its average volume of 9,472,596. The company has a market cap of $131.44 billion, a PE ratio of 65.49, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The business has a 50 day moving average price of $95.30 and a two-hundred day moving average price of $104.61.
Shopify Profile
(
Free Report)
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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