K.J. Harrison & Partners Inc Raises Stake in Shopify Inc. (NYSE:SHOP)

K.J. Harrison & Partners Inc raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 163.4% during the fourth quarter, HoldingsChannel reports. The firm owned 30,630 shares of the software maker’s stock after buying an additional 19,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Shopify were worth $3,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in Shopify during the 4th quarter worth approximately $39,000. Mather Group LLC. increased its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Shopify during the 3rd quarter worth $45,000. 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 analyst reports. Scotiabank upped their price target on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note 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 note on Wednesday, February 12th. Barclays upped their price target on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. CIBC upped their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, ATB Capital increased their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One equities research 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. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Performance

Shopify stock opened at $113.46 on Thursday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm’s 50-day moving average is $112.74 and its 200-day moving average is $96.35. The company has a market cap of $146.91 billion, a P/E ratio of 73.20, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its 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, sell-side analysts predict 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.