Shopify Inc. (NYSE:SHOP) Shares Sold by NZS Capital LLC

NZS Capital LLC trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 540,465 shares of the software maker's stock after selling 42,246 shares during the quarter. Shopify accounts for about 2.4% of NZS Capital LLC's investment portfolio, making the stock its 15th biggest position. NZS Capital LLC's holdings in Shopify were worth $57,468,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Jennison Associates LLC purchased a new stake in Shopify during the 4th quarter worth approximately $132,323,000. Watts Gwilliam & Co. LLC grew its position in shares of Shopify by 53.0% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock worth $1,431,000 after buying an additional 4,641 shares in the last quarter. Synovus Financial Corp bought a new stake in shares of Shopify in the third quarter worth $481,000. Western Financial Corp CA acquired a new stake in Shopify in the fourth quarter valued at $239,000. Finally, Kessler Investment Group LLC bought a new position in Shopify during the 4th quarter valued at $6,105,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Benchmark raised Shopify from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a report on Monday, February 10th. Phillip Securities cut Shopify from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 17th. UBS Group lifted their target price on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada lowered their price target on Shopify from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.67.

Shopify Trading Up 2.1 %

Shares of Shopify stock opened at $97.12 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market cap of $125.75 billion, a PE ratio of 62.66, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. The company's 50-day moving average price is $96.79 and its two-hundred day moving average price is $101.92.

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

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