3,650 Shares in Shopify Inc. (NYSE:SHOP) Bought by Kazazian Asset Management LLC

Kazazian Asset Management LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,650 shares of the software maker’s stock, valued at approximately $388,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SHOP. FMR LLC increased its holdings in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Shopify by 30.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after purchasing an additional 1,647,374 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after purchasing an additional 1,325,350 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Shopify in the fourth quarter valued at $132,323,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their target price on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 18th. Barclays boosted their target price on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Phillip Securities cut shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Finally, Wells Fargo & Company boosted their target price on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

Shopify stock opened at $93.90 on Wednesday. The company has a market capitalization of $121.58 billion, a P/E ratio of 60.58, a P/E/G ratio of 4.82 and a beta of 2.60. The business has a 50 day moving average of $110.27 and a 200-day moving average of $99.08. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

About Shopify

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.