Atala Financial Inc Makes New Investment in Shopify Inc. (NYSE:SHOP)

Atala Financial Inc bought a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 19,356 shares of the software maker's stock, valued at approximately $2,058,000. Shopify accounts for 1.4% of Atala Financial Inc's investment portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PFG Private Wealth Management LLC grew its position 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 in the last quarter. Brooklyn Investment Group bought a new position in Shopify in the third quarter valued at $33,000. New Wave Wealth Advisors LLC bought a new position in Shopify in the fourth quarter valued at $39,000. Mather Group LLC. grew its position in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Shopify in the third quarter valued at $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. DA Davidson lifted their price objective on shares of Shopify from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group lifted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Scotiabank lifted their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Finally, JMP Securities reissued a "market outperform" rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. One investment 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 issued a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and an average target price of $126.31.

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Shopify Stock Down 6.2 %

NYSE SHOP opened at $90.51 on Friday. The company has a 50-day simple moving average of $111.17 and a two-hundred day simple moving average of $98.29. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a market cap of $117.19 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results 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%. Equities analysts expect that Shopify Inc. will post 1.12 earnings per share 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.

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