Tacita Capital Inc Invests $462,000 in Shopify Inc. (NYSE:SHOP)

Tacita Capital Inc purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the fourth quarter, Holdings Channel.com reports. The fund purchased 4,348 shares of the software maker’s stock, valued at approximately $462,000.

A number of other large investors have also modified their holdings of the business. Brooklyn Investment Group acquired a new stake in shares of Shopify during the third quarter worth about $33,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $39,000. Mather Group LLC. lifted its holdings in shares of 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 purchasing an additional 184 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Shopify during the third quarter worth about $45,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 5.1 %

NYSE:SHOP opened at $106.25 on Tuesday. The stock’s 50 day moving average price is $112.82 and its 200 day moving average price is $97.34. The company has a market capitalization of $137.57 billion, a PE ratio of 68.55, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on SHOP. Citigroup lifted their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their price target on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Robert W. Baird boosted their price target on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Monday, February 10th. One investment 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 stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus 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.