Caxton Associates LLP Makes New $13.27 Million Investment in Shopify Inc. $SHOP

Caxton Associates LLP purchased a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 115,000 shares of the software maker’s stock, valued at approximately $13,265,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHOP. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify in the second quarter valued at $25,000. Financial Gravity Companies Inc. bought a new stake in Shopify in the second quarter worth about $27,000. Rothschild Investment LLC lifted its holdings in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in shares of Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Finally, Coastline Trust Co bought a new position in shares of Shopify during the 2nd quarter valued at about $29,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NASDAQ SHOP opened at $164.19 on Friday. The firm’s 50 day moving average price is $159.60 and its two-hundred day moving average price is $139.79. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The stock has a market cap of $213.75 billion, a price-to-earnings ratio of 121.62, a PEG ratio of 6.10 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. On average, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of research reports. DA Davidson boosted their target price on shares of Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Canaccord Genuity Group upped their price target on Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. TD Securities upgraded Shopify to a “hold” rating in a research report on Thursday, December 4th. Robert W. Baird lifted their target price on Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Finally, UBS Group set a $195.00 target price on Shopify in a research report on Wednesday, December 3rd. Twenty-two research analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $166.53.

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.