Rye Brook Capital LLC Takes Position in Shopify Inc. (NYSE:SHOP)

Rye Brook Capital LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,620 shares of the software maker’s stock, valued at approximately $279,000. Shopify accounts for approximately 0.3% of Rye Brook Capital LLC’s investment portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Howland Capital Management LLC increased its stake in 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 buying an additional 99 shares in the last quarter. Trust Co. of Vermont lifted its stake in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust boosted its holdings in shares of Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after purchasing an additional 105 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its holdings in shares of Shopify by 3.3% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

SHOP opened at $129.20 on Wednesday. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The company has a market cap of $166.94 billion, a P/E ratio of 83.35, a PEG ratio of 5.06 and a beta of 2.47. The business’s 50-day simple moving average is $112.48 and its 200-day simple moving average is $94.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, analysts predict that Shopify Inc. will post 1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent research reports. Moffett Nathanson boosted their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group boosted their price target on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group raised their price objective on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday. Canaccord Genuity Group boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, DA Davidson increased their price target on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

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.