Infusive Asset Management Inc. Takes Position in Shopify Inc. (NYSE:SHOP)

Infusive Asset Management Inc. acquired a new stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 55,503 shares of the software maker's stock, valued at approximately $5,902,000. Shopify accounts for 2.6% of Infusive Asset Management Inc.'s holdings, making the stock its 17th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz SE acquired a new position in Shopify during the 4th quarter worth $27,000. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in Shopify in the 4th quarter valued at approximately $39,000. Finally, Mather Group LLC. increased its position in Shopify by 84.8% in the 4th 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. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 7.3 %

SHOP traded up $6.24 during midday trading on Wednesday, reaching $91.95. The company's stock had a trading volume of 10,194,163 shares, compared to its average volume of 9,242,728. The stock's 50-day moving average is $98.84 and its 200-day moving average is $101.66. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a market capitalization of $119.06 billion, a price-to-earnings ratio of 59.32, a PEG ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Loop Capital reduced their target price on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. UBS Group raised their price objective on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Scotiabank boosted their price objective on Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their target price on Shopify from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Barclays boosted 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. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.66.

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.