Michael Weisberg’s Crestwood Capital Management’s Top 5 Stocks

2. Shopify Inc. (NYSE:SHOP)

Crestwood Capital Management’s Stake Value: $20,807,000

Percentage of Crestwood Capital Management’s 13F Portfolio: 8.06%

Number of Hedge Fund Holders: 85

Shopify Inc. (NYSE:SHOP) is a Canadian multinational e-commerce platform that houses multiple online retailers, allowing them to connect with customers and vice versa. As of 2021, more than 1.7 million businesses across 175 countries are listed on Shopify Inc. (NYSE:SHOP). A top stock according to Michael Weisberg, Crestwood Capital Management owns 14,242 shares in Shopify Inc. (NYSE:SHOP), amounting to $20.8 million. Shopify Inc. (NYSE:SHOP) accounts for 8.06% of the investment portfolio managed by Michael Weisberg as of June this year. 

As of the second quarter, 85 hedge funds were long Shopify Inc. (NYSE:SHOP), down from 91 in the preceding quarter. 

Deutsche Bank analyst Bhavin Shah on November 1 initiated coverage of Shopify Inc. (NYSE:SHOP) with a $1650 price target and a Hold rating. He took into account the potential short-term supply chain hindrances and the limited near-term catalysts for Shopify Inc. (NYSE:SHOP), even though he remained bullish on the future prospects of Shopify Inc. (NYSE:SHOP). 

Here is what ClearBridge Investments has to say about Shopify Inc. (NYSE:SHOP) in its Q2 2021 investor letter:

“Shopify (is one of the) companies that have become go-to platforms for small and medium size businesses (SMBs) engaged in e-commerce and social media marketing, rebounded strongly in the quarter after being caught in the selloff among high-multiple growth names since Vaccine Monday. These and the portfolio’s other disruptors had thrived through the first part of the pandemic, leading us to trim positions into strength and reallocate cash into more attractively priced evolving opportunities and steady compounders that had been overly punished by lockdowns and a drop in economic activity.”