3,059 Shares in Shopify Inc. (NYSE:SHOP) Purchased by May Hill Capital LLC

May Hill Capital LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The firm acquired 3,059 shares of the software maker’s stock, valued at approximately $325,000.

A number of other hedge funds have also made changes to their positions in the company. Jennison Associates LLC acquired a new position in Shopify in the 4th quarter valued at $132,323,000. Watts Gwilliam & Co. LLC raised its position in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after buying an additional 77,500 shares in the last quarter. Wahed Invest LLC grew its stake in Shopify by 18.4% during the 3rd quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock valued at $4,618,000 after acquiring an additional 8,960 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Shopify in the 3rd quarter valued at about $33,676,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 1.2 %

Shares of SHOP opened at $95.48 on Tuesday. The firm has a market capitalization of $123.63 billion, a price-to-earnings ratio of 61.60, a PEG ratio of 4.82 and a beta of 2.60. The firm’s fifty day simple moving average is $110.06 and its 200-day simple moving average is $101.15. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. On average, analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SHOP. Morgan Stanley upped their price target on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. ATB Capital boosted their price target on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Oppenheimer raised their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Scotiabank boosted their target price on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One research 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

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.