Rubicon Advisors GP Takes Position in Shopify Inc. $SHOP

Rubicon Advisors GP acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 5,190 shares of the software maker’s stock, valued at approximately $835,000. Shopify comprises approximately 0.8% of Rubicon Advisors GP’s holdings, making the stock its 25th largest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in SHOP. Kingdom Financial Group LLC. bought a new position in Shopify during the 4th quarter worth about $26,000. Curio Wealth LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $29,000. Lodestone Wealth Management LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $31,000. Finally, Sound Income Strategies LLC lifted its position in shares of Shopify by 82.4% in 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 during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

NASDAQ:SHOP opened at $108.85 on Friday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The stock has a market capitalization of $141.25 billion, a P/E ratio of 107.77, a P/E/G ratio of 3.05 and a beta of 2.60. The company’s 50-day simple moving average is $113.17 and its 200-day simple moving average is $129.94.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SHOP shares. BMO Capital Markets dropped their price objective on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. UBS Group reissued a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Barclays set a $126.00 target price on Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of Shopify in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

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.