Shopify Inc. (NYSE:SHOP) is Zevenbergen Capital Investments LLC's 3rd Largest Position

Zevenbergen Capital Investments LLC cut its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,621,862 shares of the software maker's stock after selling 174,304 shares during the period. Shopify makes up 5.7% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 3rd biggest position. Zevenbergen Capital Investments LLC owned about 0.20% of Shopify worth $278,783,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. Brooklyn Investment Group bought a new position in Shopify during the third quarter valued at approximately $33,000. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the fourth quarter worth approximately $39,000. Mather Group LLC. grew its position in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after purchasing an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Shopify during the 3rd quarter valued at $45,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of NYSE SHOP traded up $0.65 during midday trading on Tuesday, reaching $109.93. 5,749,047 shares of the stock traded hands, compared to its average volume of 8,624,499. The company's 50 day moving average is $110.36 and its 200 day moving average is $100.31. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The stock has a market capitalization of $142.34 billion, a PE ratio of 70.92, a P/E/G ratio of 4.82 and a beta of 2.60.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released 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, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SHOP. UBS Group raised their price target on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada set a $145.00 price objective on shares of Shopify and gave the stock an "outperform" rating in a report on Friday. Jefferies Financial Group upped their target price on shares of Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a report on Tuesday, February 18th. Finally, Citigroup lifted their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.