PCJ Investment Counsel Ltd. Purchases 710 Shares of Shopify Inc. (NYSE:SHOP)

PCJ Investment Counsel Ltd. grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,730 shares of the software maker’s stock after purchasing an additional 710 shares during the quarter. Shopify makes up approximately 2.4% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 11th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Shopify were worth $6,987,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. PFG Private Wealth Management LLC increased its holdings in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Shopify in the 3rd quarter valued at about $33,000. New Wave Wealth Advisors LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $39,000. Mather Group LLC. raised its position in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC bought a new position in Shopify during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. New Street Research started coverage on shares of Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Finally, Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned 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 presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Down 2.4 %

Shares of Shopify stock opened at $100.00 on Friday. The company has a 50 day moving average of $112.26 and a 200-day moving average of $97.80. The company has a market cap of $129.48 billion, a PE ratio of 64.52, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

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

Shopify 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.