Shopify Inc. $SHOP Holdings Decreased by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC reduced its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 11.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,051,940 shares of the software maker’s stock after selling 259,059 shares during the period. Shopify accounts for about 5.9% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 3rd largest holding. Zevenbergen Capital Investments LLC’s holdings in Shopify were worth $304,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHOP. Brighton Jones LLC boosted its position in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares in the last quarter. Algert Global LLC purchased a new position in Shopify during the first quarter valued at $251,000. Northern Trust Corp boosted its holdings in Shopify by 14.1% in the first quarter. Northern Trust Corp now owns 1,909,712 shares of the software maker’s stock worth $182,339,000 after acquiring an additional 236,677 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Shopify by 22.3% in the first quarter. Aptus Capital Advisors LLC now owns 11,016 shares of the software maker’s stock worth $1,052,000 after acquiring an additional 2,012 shares during the last quarter. Finally, Credit Agricole S A increased its holdings in shares of Shopify by 6.2% during the first quarter. Credit Agricole S A now owns 58,899 shares of the software maker’s stock valued at $5,624,000 after acquiring an additional 3,435 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $185.00 price target (up previously from $160.00) on shares of Shopify in a research note on Tuesday, November 4th. Zacks Research cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. National Bankshares increased their price target on shares of Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. BNP Paribas Exane initiated coverage on shares of Shopify in a research report on Monday, November 24th. They set a “neutral” rating for the company. Finally, Scotiabank boosted their price objective on shares of Shopify from $150.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $168.69.

Shopify Stock Up 1.7%

SHOP opened at $169.57 on Friday. The stock has a market capitalization of $220.75 billion, a price-to-earnings ratio of 125.61, a PEG ratio of 6.20 and a beta of 2.82. The firm has a 50 day moving average price of $159.88 and a 200-day moving average price of $141.56. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results 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. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. As a group, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

About Shopify

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.