May Hill Capital LLC Acquires Shares of 3,059 Shopify Inc. (NYSE:SHOP)

May Hill Capital LLC bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,059 shares of the software maker’s stock, valued at approximately $325,000.

A number of other large investors have also recently made changes to their positions in SHOP. Tidemark LLC boosted 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 period. Howland Capital Management LLC lifted its stake in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after acquiring an additional 99 shares during the last quarter. Trust Co. of Vermont boosted its holdings in Shopify by 9.9% during 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 during the period. First United Bank & Trust grew its position 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 during the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its stake in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on SHOP shares. Canaccord Genuity Group upped their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Truist Financial lifted their price target on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Wedbush reaffirmed an “outperform” rating and set a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP opened at $95.48 on Tuesday. The company has a market capitalization of $123.63 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The company’s fifty day moving average price is $110.06 and its 200 day moving average price is $101.15. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Shopify 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.