Zevenbergen Capital Investments LLC Reduces Holdings in Shopify Inc. (NYSE:SHOP)

Zevenbergen Capital Investments LLC decreased its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,604,374 shares of the software maker's stock after selling 185,197 shares during the quarter. Shopify accounts for approximately 4.7% of Zevenbergen Capital Investments LLC's holdings, making the stock its 5th largest position. Zevenbergen Capital Investments LLC owned approximately 0.20% of Shopify worth $202,881,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Wealth Management Partners LLC increased its position in shares of Shopify by 0.9% during the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker's stock valued at $1,085,000 after purchasing an additional 126 shares during the period. SJS Investment Consulting Inc. lifted its holdings in 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 acquiring an additional 130 shares during the last quarter. Pachira Investments Inc. boosted its position in shares of Shopify by 2.1% during the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker's stock valued at $552,000 after purchasing an additional 146 shares in the last quarter. Baldwin Brothers LLC MA grew its stake 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. Finally, Capital Advisors Inc. OK grew its stake in shares of Shopify by 1.7% in the 4th quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker's stock worth $723,000 after purchasing an additional 153 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several research reports. Piper Sandler raised Shopify from an "underweight" rating to a "neutral" rating and set a $63.00 price target on the stock in a report on Thursday, May 9th. ATB Capital upped their price target on Shopify from $105.00 to $110.00 and gave the company a "sector perform" rating in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft dropped their price target on Shopify from $95.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, May 9th. Canaccord Genuity Group cut their target price on shares of Shopify from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, May 9th. Finally, Atb Cap Markets raised shares of Shopify from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $76.86.

Shopify Price Performance

NYSE:SHOP traded up $0.72 during mid-day trading on Friday, hitting $58.53. The company's stock had a trading volume of 12,303,949 shares, compared to its average volume of 13,386,171. The company has a market capitalization of $75.43 billion, a price-to-earnings ratio of -344.29, a P/E/G ratio of 2.35 and a beta of 2.20. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The stock has a fifty day moving average of $72.19 and a 200-day moving average of $74.22.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. As a group, equities analysts forecast that Shopify Inc. will post 0.59 EPS for the current fiscal 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.