JCIC Asset Management Inc. Acquires Shares of 58,585 Shopify Inc. $SHOP

JCIC Asset Management Inc. acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 58,585 shares of the software maker’s stock, valued at approximately $8,702,000. Shopify comprises about 2.7% of JCIC Asset Management Inc.’s portfolio, making the stock its 10th largest position.

Several other institutional investors have also recently made changes to their positions in SHOP. Heartwood Wealth Advisors LLC purchased a new stake in Shopify in the third quarter valued at $27,000. Rothschild Investment LLC lifted its holdings in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the period. Financial Gravity Companies Inc. purchased a new stake in shares of Shopify in the second quarter worth about $27,000. Tradewinds Capital Management LLC boosted its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in Shopify during the second quarter worth about $29,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 1.4%

SHOP opened at $155.81 on Monday. The company has a market cap of $202.84 billion, a PE ratio of 115.41, a price-to-earnings-growth ratio of 4.60 and a beta of 2.83. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company has a 50-day moving average price of $160.05 and a 200 day moving average price of $149.81.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Shopify in a report on Wednesday, January 7th. Truist Financial set a $155.00 price target on shares of Shopify and gave the stock a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shopify in a research report on Monday, December 29th. TD Securities raised shares of Shopify to a “hold” rating in a research note on Thursday, December 4th. Finally, BNP Paribas Exane began coverage on Shopify in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Twenty-four analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.61.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.