Pacific Capital Wealth Advisors Inc. Invests $107,000 in Shopify Inc. (NYSE:SHOP)

Pacific Capital Wealth Advisors Inc. purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,370 shares of the software maker’s stock, valued at approximately $107,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHOP. SJS Investment Consulting Inc. boosted its stake in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the last quarter. Baldwin Brothers LLC MA boosted its position in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares during the last quarter. Global Trust Asset Management LLC grew its stake in shares of Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after purchasing an additional 350 shares during the period. Asset Management One Co. Ltd. bought a new stake in Shopify in the third quarter valued at about $47,000. Finally, Salem Investment Counselors Inc. lifted its stake in Shopify by 1,112.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after buying an additional 556 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SHOP shares. Wells Fargo & Company decreased their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. UBS Group increased their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. The Goldman Sachs Group lifted their price target on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Scotiabank upped their price objective on shares of Shopify from $70.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Shopify in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of “Hold” and a consensus target price of $79.00.

Shopify Stock Performance

NYSE:SHOP traded down $14.24 during mid-day trading on Wednesday, hitting $62.81. The stock had a trading volume of 58,261,614 shares, compared to its average volume of 9,837,176. The company’s 50 day simple moving average is $74.74 and its 200 day simple moving average is $73.78. The stock has a market cap of $80.81 billion, a price-to-earnings ratio of 697.97 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, equities research analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current year.

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.