Zevenbergen Capital Investments LLC Lowers Position in Shopify Inc. $SHOP

Zevenbergen Capital Investments LLC trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 10.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,064,021 shares of the software maker’s stock after selling 119,795 shares during the period. Shopify comprises 3.6% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 7th largest holding. Zevenbergen Capital Investments LLC’s holdings in Shopify were worth $157,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SHOP. Apella Capital LLC raised its stake in shares of Shopify by 22.5% in the 3rd quarter. Apella Capital LLC now owns 2,800 shares of the software maker’s stock valued at $415,000 after buying an additional 515 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Shopify by 3.9% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 3,903 shares of the software maker’s stock worth $579,000 after acquiring an additional 148 shares during the period. Toth Financial Advisory Corp boosted its position in shares of Shopify by 77.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 4,679 shares of the software maker’s stock valued at $694,000 after acquiring an additional 2,036 shares in the last quarter. Vann Equity Management LLC bought a new stake in Shopify in the third quarter valued at about $240,000. Finally, Venture Visionary Partners LLC increased its stake in Shopify by 4.6% in the third quarter. Venture Visionary Partners LLC now owns 95,779 shares of the software maker’s stock valued at $14,204,000 after acquiring an additional 4,210 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shopify stock traded down $1.47 during trading hours on Thursday, hitting $164.56. 7,220,815 shares of the stock were exchanged, compared to its average volume of 10,384,209. The stock has a market capitalization of $211.73 billion, a P/E ratio of 111.19, a P/E/G ratio of 3.40 and a beta of 2.62. The business’s 50-day moving average is $144.30 and its two-hundred day moving average is $125.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $3.58 billion during the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The business’s revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. Equities research analysts expect that Shopify Inc. will post 1.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several recent research reports. Citizens Jmp increased their price target on shares of Shopify from $150.00 to $185.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. DZ Bank lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Wells Fargo & Company reissued an “overweight” rating and issued a $180.00 target price (up from $144.00) on shares of Shopify in a report on Friday, August 7th. The Goldman Sachs Group raised their target price on Shopify from $170.00 to $194.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $172.39.

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses to start, operate and grow online and in physical retail environments. Its platform enables merchants to create and manage online stores, sell through multiple channels, process orders and payments, manage inventory and engage with customers.

Shopify’s products and services include its core commerce platform, Shopify Plus for larger businesses, Shopify Payments, Shop Pay, point-of-sale solutions and tools for marketing, shipping, analytics and customer management.