Berkshire Capital Holdings Inc. Has $8.37 Million Holdings in Shopify Inc. (NYSE:SHOP)

Berkshire Capital Holdings Inc. cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 46.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 78,680 shares of the software maker’s stock after selling 67,090 shares during the quarter. Shopify makes up approximately 3.0% of Berkshire Capital Holdings Inc.’s holdings, making the stock its 17th biggest holding. Berkshire Capital Holdings Inc.’s holdings in Shopify were worth $8,366,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SHOP. Empowered Funds LLC grew its holdings in shares of Shopify by 5.7% during the third quarter. Empowered Funds LLC now owns 22,446 shares of the software maker’s stock worth $1,799,000 after purchasing an additional 1,211 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Shopify by 100.6% during the third quarter. Thrivent Financial for Lutherans now owns 88,409 shares of the software maker’s stock worth $7,086,000 after purchasing an additional 44,345 shares during the last quarter. Pathstone Holdings LLC grew its holdings in shares of Shopify by 3.8% during the third quarter. Pathstone Holdings LLC now owns 68,800 shares of the software maker’s stock worth $5,514,000 after purchasing an additional 2,487 shares during the last quarter. Prospera Financial Services Inc grew its holdings in shares of Shopify by 1.7% during the third quarter. Prospera Financial Services Inc now owns 20,991 shares of the software maker’s stock worth $1,682,000 after purchasing an additional 349 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Shopify during the third quarter worth about $98,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of NYSE:SHOP opened at $101.69 on Thursday. The company has a market capitalization of $131.66 billion, a PE ratio of 65.60, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business has a fifty day moving average price of $110.15 and a two-hundred day moving average price of $99.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several research reports. JMP Securities restated a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Oppenheimer lifted their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Finally, Evercore ISI lifted their price objective on Shopify from $125.00 to $140.00 and gave the stock 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 assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.