Physician Wealth Advisors Inc. Invests $131,000 in Shopify Inc. (NYSE:SHOP)

Physician Wealth Advisors Inc. bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,233 shares of the software maker’s stock, valued at approximately $131,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOP. Norges Bank purchased a new stake in shares of Shopify during the 4th quarter worth approximately $1,542,262,000. Arrowstreet Capital Limited Partnership raised its stake in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 acquiring an additional 1,647,374 shares during the last quarter. National Bank of Canada FI boosted its stake in 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 acquiring an additional 1,621,981 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Shopify during the fourth quarter worth about $132,323,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research reports. Oppenheimer boosted their target price on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. TD Securities lifted their target price on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. CIBC increased their price target on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Scotiabank lifted their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Down 5.9 %

NYSE:SHOP opened at $96.51 on Monday. The firm has a market cap of $124.96 billion, a price-to-earnings ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company’s 50-day moving average is $110.21 and its two-hundred day moving average is $100.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results 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 return on equity of 12.00% and a net margin of 22.74%. On average, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.