Berkshire Capital Holdings Inc. Has $8.45 Million Stake in Shopify Inc. (NYSE:SHOP)

Key Points

• Berkshire Capital Holdings Inc. increased its stake in Shopify Inc. by 12.5%, owning a total of 88,500 shares valued at approximately $8.45 million, making it the 14th largest position in their portfolio.
• Shopify reported a quarterly revenue of $2.68 billion, surpassing estimates by $0.13, and achieved a significant 31.1% increase in revenue year-over-year.
• Analysts have set a positive outlook for Shopify, with 24 buy ratings and an average price target of $148.51, indicating ongoing investor confidence in the company's performance.

Berkshire Capital Holdings Inc. raised its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,500 shares of the software maker's stock after buying an additional 9,820 shares during the period. Shopify comprises 4.0% of Berkshire Capital Holdings Inc.'s portfolio, making the stock its 14th biggest position. Berkshire Capital Holdings Inc.'s holdings in Shopify were worth $8,450,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Capital World Investors increased its holdings in shares of Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after purchasing an additional 496,982 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Shopify by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker's stock valued at $4,563,106,000 after purchasing an additional 882,168 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Shopify by 19.7% in the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker's stock valued at $822,745,000 after purchasing an additional 1,426,406 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Shopify in the first quarter valued at approximately $667,392,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Shopify by 21.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker's stock valued at $539,382,000 after purchasing an additional 979,598 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $141.47 on Friday. The company's 50-day moving average price is $121.52 and its two-hundred day moving average price is $109.09. Shopify Inc. has a one year low of $65.86 and a one year high of $156.85. The stock has a market capitalization of $183.54 billion, a PE ratio of 91.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The firm had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.55 billion. During the same period in the previous year, the firm posted $0.26 EPS. The company's revenue for the quarter was up 31.1% on a year-over-year basis. On average, analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on SHOP shares. Needham & Company LLC started coverage on shares of Shopify in a report on Monday, July 14th. They issued a "buy" rating and a $135.00 price target for the company. National Bankshares raised their price target on shares of Shopify from $140.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. JMP Securities lifted their target price on shares of Shopify from $135.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. DA Davidson lifted their target price on shares of Shopify from $125.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $150.00 target price (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $148.51.

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.

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