RHL Group LLC Takes $1.96 Million Position in Shopify Inc. $SHOP

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

Other hedge funds also recently made changes to their positions in the company. Kingdom Financial Group LLC. bought a new stake in shares of Shopify during the fourth quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $29,000. Lloyd Advisory Services LLC. bought a new stake in shares of Shopify during the fourth quarter valued at approximately $31,000. Lodestone Wealth Management LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Shopify by 82.4% during the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock valued at $31,000 after buying an additional 89 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $103.00 on Monday. 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 price-to-earnings ratio of 101.98, a PEG ratio of 2.89 and a beta of 2.64. The stock’s 50 day moving average price is $116.29 and its 200 day moving average price is $135.60.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SHOP shares. ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a report on Tuesday, February 10th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. TD Securities raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Thursday, February 12th. Wells Fargo & Company dropped their target price on Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Two investment 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. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $158.42.

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.