Two Sigma Advisers LP Purchases New Position in Shopify Inc. (NYSE:SHOP)

Two Sigma Advisers LP purchased a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,950 shares of the software maker's stock, valued at approximately $314,000.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC raised its holdings in Shopify by 9.8% in the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker's stock worth $94,000 after buying an additional 79 shares during the last quarter. Tidemark LLC raised its holdings in Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock worth $276,000 after acquiring an additional 90 shares during the last quarter. Howland Capital Management LLC lifted its position in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after acquiring an additional 99 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Seven Mile Advisory increased its holdings in shares of Shopify by 2.3% in the 4th quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock worth $539,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

Shares of Shopify stock traded up $6.38 on Friday, hitting $111.41. 8,729,612 shares of the company traded hands, compared to its average volume of 9,413,365. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The business has a 50-day simple moving average of $95.74 and a 200 day simple moving average of $105.00. The stock has a market capitalization of $144.26 billion, a P/E ratio of 71.88, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Shopify in a report on Tuesday, May 6th. They set an "outperform" rating and a $120.00 price target on the stock. Evercore ISI upped their target price on shares of Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. National Bankshares reduced their price target on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Oppenheimer decreased their price objective on shares of Shopify from $150.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Barclays dropped their target price on shares of Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and an average target price of $115.11.

About Shopify

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.