RHL Group LLC Makes New $1.96 Million Investment in Shopify Inc. $SHOP

RHL Group LLC purchased a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,192 shares of the software maker’s stock, valued at approximately $1,963,000. Shopify comprises 1.6% of RHL Group LLC’s holdings, making the stock its 8th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. acquired a new position in Shopify in the fourth quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Shopify during the 4th quarter worth approximately $29,000. Lloyd Advisory Services LLC. purchased a new position in Shopify during the 4th quarter worth approximately $31,000. Lodestone Wealth Management LLC purchased a new position in Shopify during the 4th quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its position in Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shopify stock opened at $103.00 on Monday. The company’s fifty day simple moving average is $116.29 and its 200-day simple moving average is $135.60. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a market cap of $133.66 billion, a P/E ratio of 101.98, a P/E/G ratio of 2.89 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. On average, equities research analysts expect that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of several research analyst reports. ATB Cormark Capital Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Barclays set a $126.00 price objective on shares of Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Citigroup lowered their price objective on shares of Shopify from $163.00 to $156.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. KeyCorp reiterated an “overweight” rating and set a $160.00 price objective on shares of Shopify in a research report on Wednesday, February 11th. Finally, Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $158.42.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.