Winslow Capital Management LLC Decreases Holdings in Shopify Inc. (NYSE:SHOP)

Winslow Capital Management LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 35.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,493,144 shares of the software maker's stock after selling 1,375,729 shares during the period. Winslow Capital Management LLC owned approximately 0.19% of Shopify worth $265,096,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SHOP. Allianz SE acquired a new position in Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC lifted its stake in Shopify by 3,657.1% in the fourth 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. Mark Sheptoff Financial Planning LLC lifted its stake in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter worth approximately $39,000. Finally, Mather Group LLC. raised its holdings in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after purchasing an additional 184 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Down 1.4 %

NYSE:SHOP traded down $1.15 on Monday, reaching $82.56. 5,155,824 shares of the stock traded hands, compared to its average volume of 9,207,388. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market capitalization of $106.90 billion, a price-to-earnings ratio of 53.26, a PEG ratio of 4.82 and a beta of 2.82. The company's fifty day simple moving average is $104.13 and its 200 day simple moving average is $101.62.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SHOP. CIBC boosted their target price on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a 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, March 21st. Piper Sandler lifted their target price on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. DA Davidson increased their price objective on shares of Shopify from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird boosted their price target on Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. One equities research 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, the company has a consensus rating of "Moderate Buy" and an average target price of $125.74.

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.