J.Safra Asset Management Corp Buys New Position in Shopify Inc. (NYSE:SHOP)

J.Safra Asset Management Corp bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,376 shares of the software maker’s stock, valued at approximately $147,000.

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

Analysts Set New Price Targets

Several brokerages have issued reports on SHOP. Wells Fargo & Company increased their price target on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Scotiabank increased their price objective on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their price objective on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, UBS Group increased their price target on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Price Performance

Shares of NYSE:SHOP opened at $106.40 on Thursday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market cap of $137.77 billion, a PE ratio of 68.65, a P/E/G ratio of 4.82 and a beta of 2.47. The stock’s 50-day moving average is $112.57 and its 200 day moving average is $97.59.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly 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 net margin of 22.74% and a return on equity of 12.00%. Analysts expect that Shopify Inc. will post 1.12 EPS 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.