Voloridge Investment Management LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

Voloridge Investment Management LLC acquired a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,178,724 shares of the software maker's stock, valued at approximately $125,334,000. Voloridge Investment Management LLC owned 0.09% of Shopify at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC increased its position in Shopify by 9.8% during the 4th 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 period. 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 valued at $276,000 after acquiring an additional 90 shares in the last quarter. Howland Capital Management LLC raised its holdings 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. Trust Co. of Vermont raised its holdings in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after acquiring an additional 100 shares in the last quarter. Finally, First United Bank & Trust raised its holdings in Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock valued at $488,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

SHOP stock opened at $109.10 on Tuesday. The stock's 50 day simple moving average is $94.55 and its 200 day simple moving average is $104.29. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The company has a market cap of $141.26 billion, a P/E ratio of 70.39, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group dropped their price objective on Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Jefferies Financial Group dropped their price objective on Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a report on Monday, May 5th. TD Securities lifted their price objective on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Finally, National Bankshares decreased their price target on Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and an average target price of $115.37.

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.

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