Tcfg Wealth Management LLC Grows Stock Holdings in Shopify Inc. (NYSE:SHOP)

Tcfg Wealth Management LLC grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,855 shares of the software maker’s stock after purchasing an additional 270 shares during the period. Tcfg Wealth Management LLC’s holdings in Shopify were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SHOP. Creative Planning grew its position in shares of Shopify by 4.4% during the 3rd quarter. Creative Planning now owns 392,415 shares of the software maker’s stock valued at $31,448,000 after purchasing an additional 16,375 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Shopify by 4.4% during the 3rd quarter. Global Retirement Partners LLC now owns 10,651 shares of the software maker’s stock valued at $854,000 after purchasing an additional 449 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Shopify by 26.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 17,113 shares of the software maker’s stock valued at $1,371,000 after purchasing an additional 3,610 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Shopify by 1.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,079 shares of the software maker’s stock valued at $1,289,000 after purchasing an additional 194 shares in the last quarter. Finally, Claro Advisors LLC purchased a new position in shares of Shopify during the 3rd quarter valued at $96,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP opened at $128.36 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify Inc. has a one year low of $48.56 and a one year high of $128.57. The company has a 50-day simple moving average of $111.90 and a two-hundred day simple moving average of $92.75. The firm has a market capitalization of $165.85 billion, a PE ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. On average, analysts anticipate that Shopify Inc. will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. KeyCorp upped their target price on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their target price on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson upped their target price on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, CIBC upped their target price on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $126.21.

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.