Kazazian Asset Management LLC Makes New $388,000 Investment in Shopify Inc. (NYSE:SHOP)

Kazazian Asset Management LLC bought a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,650 shares of the software maker's stock, valued at approximately $388,000.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC increased its stake in shares of Shopify by 5.7% in the third quarter. Empowered Funds LLC now owns 22,446 shares of the software maker's stock valued at $1,799,000 after purchasing an additional 1,211 shares during the period. Claro Advisors LLC purchased a new stake in shares of Shopify in the 3rd quarter valued at approximately $456,000. Thrivent Financial for Lutherans lifted its position in shares of Shopify by 100.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 88,409 shares of the software maker's stock valued at $7,086,000 after acquiring an additional 44,345 shares in the last quarter. Pathstone Holdings LLC lifted its position in Shopify by 3.8% in the 3rd quarter. Pathstone Holdings LLC now owns 68,800 shares of the software maker's stock worth $5,514,000 after buying an additional 2,487 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its position in Shopify by 1.7% in the 3rd quarter. Prospera Financial Services Inc now owns 20,991 shares of the software maker's stock worth $1,682,000 after buying an additional 349 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Trading Up 2.4 %

NYSE:SHOP traded up $2.44 during mid-day trading on Friday, hitting $104.29. 8,690,629 shares of the company's stock were exchanged, compared to its average volume of 8,586,306. The firm has a market capitalization of $135.04 billion, a P/E ratio of 67.29, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The company has a 50 day simple moving average of $110.04 and a 200-day simple moving average of $99.33.

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Shopify (NYSE:SHOP - Get Free Report) 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 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, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SHOP shares. CIBC raised their price target on shares of Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Phillip Securities downgraded shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. New Street Research initiated coverage on shares of Shopify in a report on Friday, January 10th. They set a "neutral" rating and a $115.00 price target on the stock. Benchmark upgraded shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a research note on Monday, February 10th. Finally, Oppenheimer raised their target price on shares of Shopify from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.31.

Shopify Company 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.