Caxton Associates LLP Makes New $13.27 Million Investment in Shopify Inc. $SHOP

Caxton Associates LLP purchased a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 115,000 shares of the software maker’s stock, valued at approximately $13,265,000.

A number of other hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Shopify by 171.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after purchasing an additional 267,271 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Shopify by 4.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock worth $603,425,000 after purchasing an additional 218,829 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Shopify by 9.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock valued at $46,185,000 after buying an additional 35,113 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Shopify by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,622,495 shares of the software maker’s stock valued at $301,869,000 after buying an additional 67,260 shares during the period. Finally, ARK Investment Management LLC lifted its stake in shares of Shopify by 13.6% in the second quarter. ARK Investment Management LLC now owns 5,049,508 shares of the software maker’s stock valued at $582,461,000 after buying an additional 605,283 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $164.19 on Friday. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The business has a fifty day moving average of $159.60 and a two-hundred day moving average of $139.79. The stock has a market cap of $213.75 billion, a PE ratio of 121.62, a PEG ratio of 6.10 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $185.00 price target (up previously from $160.00) on shares of Shopify in a report on Tuesday, November 4th. Citigroup restated a “market outperform” rating on shares of Shopify in a research note on Thursday, December 4th. Oppenheimer reiterated an “outperform” rating on shares of Shopify in a research note on Monday, December 1st. Raymond James Financial reissued a “market perform” rating on shares of Shopify in a report on Monday, December 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $192.00 price objective (up from $165.00) on shares of Shopify in a report on Wednesday, November 5th. Twenty-two investment analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $166.53.

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.