Rydar Equities Inc. Purchases New Stake in Shopify Inc. $SHOP

Rydar Equities Inc. acquired a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,475 shares of the software maker’s stock, valued at approximately $516,000.

A number of other large investors also recently added to or reduced their stakes in the business. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $25,000. Financial Gravity Companies Inc. bought a new stake in shares of Shopify during the 2nd quarter valued at $27,000. Rothschild Investment LLC lifted its stake in shares of 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 purchasing an additional 75 shares during the period. Tradewinds Capital Management LLC boosted its position in shares of Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in shares of Shopify during the second quarter worth $29,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Down 0.3%

SHOP opened at $164.19 on Monday. The stock has a market capitalization of $213.75 billion, a P/E ratio of 121.62, a P/E/G ratio of 6.10 and a beta of 2.82. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The firm’s fifty day simple moving average is $159.60 and its 200 day simple moving average is $140.02.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. On average, equities research analysts predict 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 recent analyst reports. National Bankshares raised their target price on Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $181.00 target price (up from $156.00) on shares of Shopify in a report on Wednesday, November 5th. BMO Capital Markets lifted their price target on shares of Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Oppenheimer restated an “outperform” rating on shares of Shopify in a research report on Monday, December 1st. Finally, Scotiabank lifted their target price on Shopify from $150.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.