NZS Capital LLC Has $57.47 Million Holdings in Shopify Inc. (NYSE:SHOP)

NZS Capital LLC cut its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 540,465 shares of the software maker’s stock after selling 42,246 shares during the quarter. Shopify accounts for 2.4% of NZS Capital LLC’s portfolio, making the stock its 15th largest position. NZS Capital LLC’s holdings in Shopify were worth $57,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SHOP. Norges Bank purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $1,542,262,000. Arrowstreet Capital Limited Partnership raised its stake in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Shopify by 631.3% in the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock valued at $474,187,000 after purchasing an additional 3,849,796 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Shopify by 623.8% in the fourth quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker’s stock worth $198,932,000 after buying an additional 2,228,091 shares during the period. Finally, FIL Ltd boosted its position in shares of Shopify by 11.9% in the fourth quarter. FIL Ltd now owns 15,774,148 shares of the software maker’s stock worth $1,678,865,000 after buying an additional 1,682,326 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Robert W. Baird increased their price objective on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group increased their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group raised their price target on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. Loop Capital dropped their price objective on shares of Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Finally, National Bankshares decreased their target price on shares of Shopify from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.67.

Shopify Trading Up 2.1 %

Shares of SHOP stock opened at $97.12 on Friday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm’s fifty day simple moving average is $96.79 and its 200 day simple moving average is $101.92. The firm has a market capitalization of $125.75 billion, a P/E ratio of 62.66, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. Equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

About Shopify

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.