Shopify Inc. (NYSE:SHOP) Position Raised by Moore Capital Management LP

Moore Capital Management LP increased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 129.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,255 shares of the software maker's stock after purchasing an additional 11,424 shares during the period. Moore Capital Management LP's holdings in Shopify were worth $2,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. LRI Investments LLC increased its holdings in shares of Shopify by 9.8% in the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker's stock valued at $94,000 after buying an additional 79 shares in the last quarter. Tidemark LLC increased its holdings in shares of Shopify by 3.6% in 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 in the last quarter. Howland Capital Management LLC increased its holdings in shares of Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after buying an additional 99 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after buying an additional 100 shares in the last quarter. Finally, First United Bank & Trust increased its holdings in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock valued at $488,000 after buying an additional 100 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

Shares of SHOP opened at $104.34 on Tuesday. The company has a 50-day simple moving average of $93.25 and a 200-day simple moving average of $103.23. The firm has a market capitalization of $135.10 billion, a P/E ratio of 67.32, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on SHOP shares. Citigroup upped their price target on Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. National Bankshares dropped their price target on Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Barclays dropped their price target on Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a report on Friday. BNP Paribas Exane cut shares of Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price objective on the stock. in a research report on Monday, May 5th. Finally, Atb Cap Markets upgraded shares of Shopify from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $115.37.

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.

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