Tallon Kerry Patrick Invests $230,000 in Shopify Inc. (NYSE:SHOP)

Tallon Kerry Patrick acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,140 shares of the software maker’s stock, valued at approximately $230,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Brooklyn Investment Group bought a new stake in Shopify during the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton raised 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 stake in Shopify during the 3rd quarter valued at $45,000. Finally, GAMMA Investing LLC raised 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. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SHOP shares. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Oppenheimer lifted their target price on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Robert W. Baird lifted their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Moffett Nathanson lifted their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Performance

Shares of Shopify stock opened at $103.47 on Friday. The stock has a market cap of $133.70 billion, a PE ratio of 96.71, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. The business has a fifty day simple moving average of $108.71 and a 200-day simple moving average of $85.17. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $120.72.

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.