May Hill Capital LLC Takes $325,000 Position in Shopify Inc. (NYSE:SHOP)

May Hill Capital LLC bought a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,059 shares of the software maker's stock, valued at approximately $325,000.

A number of other hedge funds have also added to or reduced their stakes in SHOP. Tidemark LLC increased its holdings in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after buying an additional 90 shares during the last quarter. Howland Capital Management LLC increased its stake in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock worth $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont raised its holdings 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 during the period. First United Bank & Trust lifted its position in Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock valued at $488,000 after purchasing an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

NYSE SHOP traded down $7.18 on Friday, hitting $75.11. The stock had a trading volume of 17,494,508 shares, compared to its average volume of 9,236,212. The business's fifty day moving average price is $109.29 and its 200 day moving average price is $101.20. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock has a market cap of $97.25 billion, a price-to-earnings ratio of 48.41, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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, sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $125.00 target price on shares of Shopify in a report on Tuesday, February 11th. DA Davidson lifted their target price 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. Piper Sandler increased their price target on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Benchmark raised Shopify from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a report on Monday, February 10th. Finally, Phillip Securities lowered shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus price target 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.