Shopify Inc. (NYSE:SHOP) Stock Holdings Cut by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,621,862 shares of the software maker’s stock after selling 174,304 shares during the quarter. Shopify accounts for 5.7% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 3rd largest position. Zevenbergen Capital Investments LLC owned about 0.20% of Shopify worth $278,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PFG Private Wealth Management LLC raised its holdings in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in Shopify in the 4th quarter valued at $39,000. Mather Group LLC. lifted its holdings in Shopify by 84.8% in the 4th 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. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth $33,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Shopify during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SHOP. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays upped their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, TD Securities upped their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. One equities research 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 given a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

Shares of SHOP stock opened at $104.29 on Monday. The firm has a fifty day moving average of $110.04 and a two-hundred day moving average of $99.73. The firm has a market cap of $135.04 billion, a P/E ratio of 67.29, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. On average, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Shopify 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.