CAP Partners LLC Grows Stock Position in Shopify Inc. (NYSE:SHOP)

CAP Partners LLC increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 17,672 shares of the software maker’s stock after purchasing an additional 347 shares during the period. Shopify accounts for approximately 1.3% of CAP Partners LLC’s portfolio, making the stock its 23rd largest position. CAP Partners LLC’s holdings in Shopify were worth $1,879,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. True Vision MN LLC acquired a new stake in Shopify during the 4th quarter worth $410,000. Hartline Investment Corp grew its stake in Shopify by 200.7% during the 4th quarter. Hartline Investment Corp now owns 61,444 shares of the software maker’s stock valued at $6,533,000 after acquiring an additional 41,008 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Shopify in the 4th quarter valued at about $89,000. Summit Trail Advisors LLC purchased a new position in Shopify in the 4th quarter worth approximately $335,000. Finally, First National Corp MA ADV acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $237,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

SHOP stock opened at $119.88 on Tuesday. The stock has a market cap of $154.89 billion, a price-to-earnings ratio of 112.04, a PEG ratio of 2.49 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $123.41. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $110.91 and a 200 day moving average price of $90.95.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Wedbush raised shares of Shopify from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $115.00 to $125.00 in a research note on Monday, January 6th. The Goldman Sachs Group boosted their target price on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Mizuho lifted their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Moffett Nathanson upped their price objective on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $101.74.

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.