YANKCOM Partnership Takes Position in Shopify Inc. (NYSE:SHOP)

YANKCOM Partnership purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,225 shares of the software maker’s stock, valued at approximately $1,087,000.

Several other hedge funds have also recently added to or reduced their stakes in SHOP. Brooklyn Investment Group purchased a new stake in Shopify during the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton increased its stake in 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 purchasing an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the fourth quarter worth approximately $39,000. Mather Group LLC. lifted its position in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Shopify in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. KeyCorp lifted their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Mizuho increased their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Shopify in a research report on Wednesday, January 22nd. Finally, New Street Research initiated coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Stock Performance

Shopify stock opened at $121.89 on Thursday. The stock’s 50-day moving average is $110.57 and its 200-day moving average is $89.73. The company has a market cap of $157.49 billion, a price-to-earnings ratio of 113.91, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $122.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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.