J.Safra Asset Management Corp Invests $147,000 in Shopify Inc. (NYSE:SHOP)

J.Safra Asset Management Corp purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,376 shares of the software maker’s stock, valued at approximately $147,000.

A number of other hedge funds also recently modified their holdings of SHOP. Robeco Institutional Asset Management B.V. raised its position in shares of Shopify by 1.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 210,668 shares of the software maker’s stock worth $16,883,000 after purchasing an additional 3,035 shares during the period. Asset Management One Co. Ltd. raised its position in Shopify by 61.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 99,620 shares of the software maker’s stock valued at $7,984,000 after buying an additional 37,996 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Shopify in the 3rd quarter valued at approximately $227,000. Heritage Investors Management Corp raised its position in Shopify by 4.5% in the 3rd quarter. Heritage Investors Management Corp now owns 4,701 shares of the software maker’s stock valued at $377,000 after buying an additional 201 shares during the last quarter. Finally, NorthRock Partners LLC acquired a new stake in Shopify in the 3rd quarter valued at approximately $213,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Oppenheimer boosted their price target on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. DA Davidson boosted their price target on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Up 4.6 %

NYSE SHOP opened at $106.40 on Thursday. The business’s 50-day moving average price is $112.57 and its two-hundred day moving average price is $97.59. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm has a market capitalization of $137.77 billion, a PE ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

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 net margin of 22.74% and a return on equity of 12.00%. As a group, 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.