Y Intercept Hong Kong Ltd Invests $3.51 Million in Shopify Inc. (NYSE:SHOP)

Y Intercept Hong Kong Ltd bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 33,034 shares of the software maker’s stock, valued at approximately $3,513,000.

Several other large investors have also recently made changes to their positions in SHOP. Brooklyn Investment Group purchased a new stake in shares of Shopify during the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the fourth quarter worth approximately $39,000. Mather Group LLC. increased its position in shares of Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Shopify during the third quarter worth approximately $45,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Down 6.5 %

SHOP opened at $115.40 on Monday. The stock’s 50-day moving average price is $112.85 and its 200 day moving average price is $95.60. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a market cap of $149.42 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (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 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, research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group boosted their price target on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. TD Securities upped their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. KeyCorp upped their target price on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, New Street Research assumed coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price for the company. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Company 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.