WD Rutherford LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

WD Rutherford LLC purchased a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 7,155 shares of the software maker's stock, valued at approximately $683,000.

A number of other large investors also recently modified their holdings of the business. LRI Investments LLC boosted its holdings in Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker's stock valued at $94,000 after purchasing an additional 79 shares during the period. Tidemark LLC raised its position in shares of Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after buying an additional 90 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after buying an additional 100 shares during the period. Seven Mile Advisory increased its stake in Shopify by 2.3% during the fourth quarter. Seven Mile Advisory now owns 5,068 shares of the software maker's stock valued at $539,000 after acquiring an additional 114 shares during the period. Finally, Accurate Wealth Management LLC raised its holdings in Shopify by 4.0% in the 1st quarter. Accurate Wealth Management LLC now owns 3,408 shares of the software maker's stock valued at $325,000 after acquiring an additional 131 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

NYSE:SHOP traded down $1.84 on Tuesday, hitting $106.53. 4,901,719 shares of the stock were exchanged, compared to its average volume of 9,322,719. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market capitalization of $138.21 billion, a price-to-earnings ratio of 68.73, a P/E/G ratio of 4.82 and a beta of 2.63. The company's 50-day moving average price is $99.26 and its 200 day moving average price is $104.94.

Analysts Set New Price Targets

SHOP has been the topic of a number of research reports. Atb Cap Markets upgraded Shopify from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Wedbush reissued an "outperform" rating and issued a $110.00 price target on shares of Shopify in a report on Tuesday, April 15th. National Bankshares dropped their price objective 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. BMO Capital Markets started coverage on shares of Shopify in a research report on Tuesday, May 6th. They set an "outperform" rating and a $120.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.66.

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.