TABR Capital Management LLC Invests $323,000 in Shopify Inc. (NYSE:SHOP)

TABR Capital Management LLC bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,379 shares of the software maker’s stock, valued at approximately $323,000. Shopify comprises approximately 0.3% of TABR Capital Management LLC’s holdings, making the stock its 22nd largest holding.

Several other large investors have also bought and sold shares of the company. Capital World Investors raised its stake in shares of Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock worth $5,646,455,000 after purchasing an additional 496,982 shares during the last quarter. Vanguard Group Inc. raised its position in Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after buying an additional 781,162 shares during the last quarter. FMR LLC raised its position in Shopify by 3.4% in the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock worth $4,653,054,000 after buying an additional 1,426,000 shares during the last quarter. Capital International Investors raised its holdings in shares of Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after purchasing an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NYSE SHOP opened at $114.42 on Wednesday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm’s fifty day moving average is $101.89 and its two-hundred day moving average is $104.76. The company has a market cap of $148.45 billion, a P/E ratio of 73.82, a P/E/G ratio of 4.82 and a beta of 2.63.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Capital One Financial raised shares of Shopify from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 8th. Scotiabank reduced their price objective on Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a research report on Monday, April 28th. BNP Paribas Exane cut Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Monday, May 5th. Jefferies Financial Group reduced their price objective on Shopify from $130.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Finally, Barclays reduced their price target on shares of Shopify from $100.00 to $94.00 and set an “equal weight” rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.66.

Shopify 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.