Barton Investment Management Trims Holdings in Shopify Inc. $SHOP

Barton Investment Management decreased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.6% during the 2nd quarter, Holdings Channel reports. The fund owned 1,718,366 shares of the software maker’s stock after selling 10,010 shares during the quarter. Shopify accounts for about 20.5% of Barton Investment Management’s investment portfolio, making the stock its 2nd biggest holding. Barton Investment Management’s holdings in Shopify were worth $198,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. River Street Advisors LLC lifted its stake in Shopify by 1.6% in the second quarter. River Street Advisors LLC now owns 8,349 shares of the software maker’s stock valued at $963,000 after buying an additional 132 shares in the last quarter. Hilltop National Bank bought a new position in Shopify in the second quarter valued at approximately $117,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Shopify by 171.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after buying an additional 267,271 shares in the last quarter. J. Safra Sarasin Holding AG lifted its stake in Shopify by 30.1% in the second quarter. J. Safra Sarasin Holding AG now owns 3,098 shares of the software maker’s stock valued at $357,000 after buying an additional 716 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. lifted its stake in Shopify by 3.5% in the second quarter. ASR Vermogensbeheer N.V. now owns 26,919 shares of the software maker’s stock valued at $3,098,000 after buying an additional 900 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of a number of research reports. Wedbush lifted their price target on shares of Shopify from $115.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Wells Fargo & Company lifted their price target on shares of Shopify from $107.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Loop Capital downgraded shares of Shopify from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Tuesday, July 22nd. Arete Research upgraded shares of Shopify to a “hold” rating in a report on Wednesday, July 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Shopify from $120.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Twenty-three research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $150.83.

Shopify Trading Up 1.2%

Shares of SHOP opened at $151.30 on Friday. The company has a market cap of $196.64 billion, a price-to-earnings ratio of 84.53, a PEG ratio of 7.09 and a beta of 2.72. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $159.01. The company’s fifty day simple moving average is $142.04 and its 200 day simple moving average is $116.66.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. As a group, research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current 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.