Arkfeld Wealth Strategies L.L.C. Purchases 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% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,056 shares of the software maker’s stock after buying an additional 1,326 shares during the quarter. Arkfeld Wealth Strategies L.L.C.’s holdings in Shopify were worth $1,227,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SHOP. Legal & General Group Plc increased its stake in Shopify by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 8,233,517 shares of the software maker’s stock worth $544,017,000 after purchasing an additional 145,618 shares during the period. Oliver Lagore Vanvalin Investment Group increased its stake in 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 during the period. Sepio Capital LP increased its stake in shares of Shopify by 10.3% during the second quarter. Sepio Capital LP now owns 43,222 shares of the software maker’s stock valued at $2,855,000 after buying an additional 4,048 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Shopify during the second quarter valued at approximately $334,000. Finally, Kathmere Capital Management LLC purchased a new position in shares of Shopify during the second quarter valued at approximately $184,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $107.74 on Friday. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $109.37 and a two-hundred day simple moving average of $86.92. The stock has a market cap of $139.22 billion, a price-to-earnings ratio of 100.70, a PEG ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SHOP shares. Canaccord Genuity Group boosted their target price on Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup boosted their target price on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Truist Financial boosted their target price on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Finally, Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $115.00 to $125.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $100.31.

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.