Arkfeld Wealth Strategies L.L.C. Acquires 1,326 Shares of Shopify Inc. (NYSE:SHOP)

Arkfeld Wealth Strategies L.L.C. increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,056 shares of the software maker’s stock after purchasing an additional 1,326 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in Shopify were worth $1,227,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group bought a new position in Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Truvestments Capital LLC bought a new position in Shopify during the 3rd quarter valued at $45,000. Finally, GAMMA Investing LLC lifted its stake in Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. Wells Fargo & Company raised their price objective on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Scotiabank raised their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Moffett Nathanson raised their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler raised their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Performance

Shares of SHOP opened at $107.74 on Friday. The company has a market cap of $139.22 billion, a PE ratio of 100.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $109.37 and a 200-day moving average price of $86.92. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $120.72.

About Shopify

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.