Invictus RG Takes $288,000 Position in Shopify Inc. (NYSE:SHOP)

Invictus RG acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,475 shares of the software maker’s stock, valued at approximately $288,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Private Advisory Group LLC raised its stake in Shopify by 3.9% during the 2nd quarter. Private Advisory Group LLC now owns 4,391 shares of the software maker’s stock worth $382,000 after buying an additional 164 shares during the period. Advisory Services Network LLC raised its stake in Shopify by 26.6% during the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after buying an additional 298 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of Shopify by 2.1% in the second quarter. Tocqueville Asset Management L.P. now owns 19,200 shares of the software maker’s stock worth $1,668,000 after purchasing an additional 400 shares during the last quarter. Meridian Wealth Management LLC raised its stake in shares of Shopify by 18.5% in the third quarter. Meridian Wealth Management LLC now owns 3,477 shares of the software maker’s stock worth $413,000 after purchasing an additional 544 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in shares of Shopify by 1.2% in the second quarter. State of Tennessee Treasury Department now owns 46,703 shares of the software maker’s stock valued at $4,058,000 after acquiring an additional 550 shares in the last quarter. 55.32% of the stock is currently owned by institutional investors and hedge funds.

Shopify Inc. (NYSE:SHOP) traded down $1.39 during midday trading on Friday, reaching $101.00. The company’s stock had a trading volume of 776,227 shares, compared to its average volume of 1,077,306. Shopify Inc. has a twelve month low of $42.13 and a twelve month high of $123.94. The company has a quick ratio of 10.64, a current ratio of 10.64 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $8,827.85, a P/E ratio of -206.12 and a beta of 1.02.

Several equities analysts have recently issued reports on SHOP shares. Monness Crespi & Hardt raised Shopify from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a report on Friday, October 27th. KeyCorp reaffirmed an “overweight” rating and issued a $140.00 target price (up from $116.00) on shares of Shopify in a report on Monday, November 27th. Piper Jaffray Companies reissued a “buy” rating and set a $110.00 price objective on shares of Shopify in a report on Tuesday, September 5th. Vetr raised Shopify from a “buy” rating to a “strong-buy” rating and set a $125.38 price objective for the company in a report on Wednesday, November 29th. Finally, Robert W. Baird reissued an “outperform” rating and set a $110.00 price objective on shares of Shopify in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $102.56.

TRADEMARK VIOLATION WARNING: “Invictus RG Takes $288,000 Position in Shopify Inc. (NYSE:SHOP)” was posted by Week Herald and is owned by of Week Herald. If you are viewing this news story on another domain, it was stolen and republished in violation of US and international copyright laws. The correct version of this news story can be accessed at https://weekherald.com/2017/12/30/invictus-rg-buys-new-holdings-in-shopify-inc-shop.html.

About Shopify

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply