Berkshire Capital Holdings Inc. Reduces Holdings in Shopify Inc. (NYSE:SHOP)

Berkshire Capital Holdings Inc. lowered its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 46.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,680 shares of the software maker's stock after selling 67,090 shares during the quarter. Shopify accounts for about 3.0% of Berkshire Capital Holdings Inc.'s portfolio, making the stock its 17th largest position. Berkshire Capital Holdings Inc.'s holdings in Shopify were worth $8,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. FMR LLC increased its position in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker's stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker's stock valued at $658,248,000 after buying an additional 484,561 shares during the last quarter. National Bank of Canada FI increased its holdings in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker's stock valued at $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shopify by 30.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker's stock valued at $754,201,000 after buying an additional 1,647,374 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Shopify by 9.6% in the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker's stock valued at $432,573,000 after buying an additional 471,280 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

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Shopify Price Performance

Shopify stock traded up $2.44 during mid-day trading on Friday, reaching $104.29. The company had a trading volume of 8,690,629 shares, compared to its average volume of 8,602,471. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market capitalization 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. The stock's 50-day simple moving average is $110.04 and its 200-day simple moving average is $99.73.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOP. Moffett Nathanson increased their target price on Shopify from $86.00 to $99.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their target price on Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Barclays increased their target price on Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. Finally, Wedbush reaffirmed an "outperform" rating and set a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.31.

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.