Next Century Growth Investors LLC Buys 7,999 Shares of Shopify Inc. (NYSE:SHOP)

Next Century Growth Investors LLC grew its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 47.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 24,783 shares of the software maker's stock after acquiring an additional 7,999 shares during the period. Next Century Growth Investors LLC's holdings in Shopify were worth $2,635,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SHOP. M&T Bank Corp increased its stake in Shopify by 2.4% in the 3rd quarter. M&T Bank Corp now owns 42,051 shares of the software maker's stock valued at $3,370,000 after buying an additional 1,001 shares during the period. Geode Capital Management LLC raised its holdings in Shopify by 9.6% during 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 in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Shopify by 14.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,140 shares of the software maker's stock valued at $339,000 after acquiring an additional 518 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Shopify in the third quarter worth $568,000. Finally, TD Private Client Wealth LLC acquired a new position in Shopify in the 3rd quarter valued at $1,232,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

SHOP traded up $1.14 during trading on Tuesday, reaching $83.91. The company had a trading volume of 6,972,794 shares, compared to its average volume of 9,220,226. The business's fifty day moving average price is $103.35 and its 200 day moving average price is $101.65. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market cap of $108.65 billion, a P/E ratio of 54.14, a PEG ratio of 4.82 and a beta of 2.82.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SHOP. Mizuho decreased their target price on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday. Canaccord Genuity Group boosted their price target on shares of Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Barclays lifted their price objective on Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $120.00 price objective on shares of Shopify in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $124.74.

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.