17,074 Shares in Shopify Inc. $SHOP Purchased by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 17,074 shares of the software maker’s stock, valued at approximately $2,748,000. Shopify accounts for about 0.4% of TB Alternative Assets Ltd.’s portfolio, making the stock its 27th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Brighton Jones LLC raised its stake in shares of Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares during the last quarter. AQR Capital Management LLC grew its position in Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after buying an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after buying an additional 506 shares during the period. M&T Bank Corp increased its stake in Shopify by 15.1% in the 2nd quarter. M&T Bank Corp now owns 63,772 shares of the software maker’s stock valued at $7,356,000 after buying an additional 8,366 shares during the period. Finally, Wellspring Financial Advisors LLC purchased a new position in Shopify during the 2nd quarter worth $207,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $118.52 on Thursday. The firm’s 50-day moving average is $123.30 and its two-hundred day moving average is $146.53. The company has a market capitalization of $154.56 billion, a PE ratio of 127.44, a price-to-earnings-growth ratio of 4.20 and a beta of 2.82. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent analyst reports. Arete Research set a $175.00 target price on shares of Shopify in a research note on Monday, February 2nd. UBS Group dropped their price target on shares of Shopify from $165.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Bank of America raised their price objective on shares of Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Evercore set a $135.00 price objective on Shopify in a report on Wednesday, February 11th. Finally, Truist Financial set a $150.00 target price on Shopify and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.38.

Shopify 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.