12,326 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Ted Buchan & Co

Ted Buchan & Co purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,326 shares of the software maker’s stock, valued at approximately $1,311,000.

Other institutional investors also recently made changes to their positions in the company. Allianz SE acquired a new position in Shopify in the fourth quarter valued at $27,000. PFG Private Wealth Management LLC raised its holdings in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the 4th quarter worth about $39,000. Finally, Mather Group LLC. increased its position in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Down 6.6 %

Shares of NYSE SHOP opened at $76.89 on Friday. The stock has a market cap of $99.56 billion, a P/E ratio of 49.61, a P/E/G ratio of 4.82 and a beta of 2.81. The firm’s 50-day simple moving average is $108.67 and its 200 day simple moving average is $101.22. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 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, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on SHOP shares. Wedbush reiterated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. Barclays upped their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Robert W. Baird raised their price objective on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group upped their target price on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $126.31.

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.