Tcfg Wealth Management LLC Acquires 270 Shares of Shopify Inc. (NYSE:SHOP)

Tcfg Wealth Management LLC raised its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,855 shares of the software maker’s stock after purchasing an additional 270 shares during the period. Tcfg Wealth Management LLC’s holdings in Shopify were worth $410,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of Shopify during the fourth quarter valued at approximately $132,323,000. Swiss National Bank increased its position in shares of Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC increased its position in shares of Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after acquiring an additional 7,027 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.6 %

Shares of SHOP opened at $128.36 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $128.57. The company has a 50 day simple moving average of $111.90 and a two-hundred day simple moving average of $92.75. The firm has a market cap of $165.85 billion, a P/E ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, equities analysts expect that Shopify Inc. will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of several analyst reports. Canaccord Genuity Group raised their price target on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. TD Securities raised their price target on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday. New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. Royal Bank of Canada raised their price target on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.21.

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.