Brevan Howard Capital Management LP Takes Position in Shopify Inc. (NYSE:SHOP)

Brevan Howard Capital Management LP bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,050 shares of the software maker’s stock, valued at approximately $750,000.

Other hedge funds have also recently bought and sold shares of the company. Allianz SE acquired a new position in shares of Shopify during the fourth quarter worth $27,000. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the fourth quarter valued at approximately $39,000. Finally, Mather Group LLC. increased its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. The Goldman Sachs Group decreased their target price on Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. KeyCorp dropped their price objective on shares of Shopify from $140.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird raised their price target on shares of Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. UBS Group increased their target price on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.00.

Shopify Price Performance

Shares of Shopify stock opened at $94.26 on Friday. The firm has a 50 day simple moving average of $93.49 and a 200 day simple moving average of $102.66. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market cap of $122.05 billion, a P/E ratio of 60.81, a P/E/G ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Thursday, May 8th. The software maker reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.79). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Shopify’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the business posted $0.20 EPS. On average, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

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.