SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

Pier Capital, LLC's Holding History (CIK: 0001310051)

Note: Option positions (PUT/CALL) are excluded.

Q1 2017
Shares 97,554 Value ($000) $6,642 Avg Close $5.76 Range $4.21 - $7.30
Q4 2016
Shares 130,840 Value ($000) $5,609 Avg Close $4.20 Range $3.77 - $4.54
Q3 2016
Shares 137,350 Value ($000) $5,895 Avg Close $3.82 Range $3.00 - $4.52
Q2 2016
Shares 190,666 Value ($000) $5,865 Avg Close $2.92 Range $2.50 - $3.24
Q1 2016
Shares 232,311 Value ($000) $6,553 Avg Close $2.37 Range $1.85 - $2.88
Q4 2015
Shares 287,765 Value ($000) $7,424 Avg Close $2.94 Range $2.41 - $3.93
Q3 2015
Shares 187,120 Value ($000) $6,587 Avg Close $3.17 Range $2.27 - $4.11