2,620 Shares in Shopify Inc. (NYSE:SHOP) Bought by Rye Brook Capital LLC

Rye Brook Capital LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,620 shares of the software maker’s stock, valued at approximately $279,000. Shopify comprises approximately 0.3% of Rye Brook Capital LLC’s holdings, making the stock its 23rd largest holding.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Shopify in the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Shopify by 41.3% in the third 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. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $39,000. Mather Group LLC. increased its stake in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Shopify in the third quarter valued at about $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NYSE SHOP opened at $129.20 on Wednesday. The company has a market cap of $166.94 billion, a P/E ratio of 83.35, a P/E/G ratio of 5.06 and a beta of 2.47. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a 50-day moving average of $112.48 and a 200-day moving average of $94.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.11 EPS for the current year.

Analyst Ratings Changes

SHOP has been the subject of a number of analyst reports. Evercore ISI increased their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group increased their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Citigroup boosted their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group raised their price objective on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, UBS Group boosted their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

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.