Verus Capital Partners LLC Buys New Position in Shopify Inc. (NYSE:SHOP)

Verus Capital Partners LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,734 shares of the software maker’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in Shopify in the second quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify during the second quarter worth about $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. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Shopify during the second quarter worth about $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NYSE SHOP opened at $115.13 on Thursday. The company has a market cap of $148.56 billion, a PE ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $115.62. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $79.47 and its two-hundred day simple moving average is $70.18.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Research analysts predict that Shopify Inc. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on SHOP. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Truist Financial upped their price objective on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday. Barclays upped their price objective on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Tuesday, September 17th. Finally, Robert W. Baird upped their price objective on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

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.