Rubicon Advisors GP Purchases New Shares in Shopify Inc. $SHOP

Rubicon Advisors GP purchased a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,190 shares of the software maker’s stock, valued at approximately $835,000. Shopify comprises approximately 0.8% of Rubicon Advisors GP’s holdings, making the stock its 25th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Kingdom Financial Group LLC. bought a new stake in shares of Shopify in the 4th quarter worth about $26,000. Curio Wealth LLC bought a new position in Shopify during the 4th quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Shopify during the 4th quarter valued at about $29,000. Lloyd Advisory Services LLC. bought a new position in Shopify during the 4th quarter valued at about $31,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Shopify in the 4th quarter worth about $31,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Robert W. Baird set a $150.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of Shopify in a research note on Wednesday, May 6th. BMO Capital Markets reduced their price target on Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings lowered Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $140.00 price target (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Price Performance

Shares of SHOP opened at $108.85 on Friday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The company has a 50-day moving average of $113.17 and a 200 day moving average of $129.94. The firm has a market capitalization of $141.25 billion, a price-to-earnings ratio of 107.77, a PEG ratio of 3.05 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, equities analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.