Barton Investment Management Sells 44,363 Shares of Shopify Inc. $SHOP

Barton Investment Management cut its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,640,426 shares of the software maker’s stock after selling 44,363 shares during the period. Shopify makes up 28.5% of Barton Investment Management’s holdings, making the stock its largest position. Barton Investment Management owned approximately 0.13% of Shopify worth $264,059,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC increased its holdings in shares of Shopify by 1.7% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after purchasing an additional 59 shares during the period. Accurate Wealth Management LLC increased its holdings in shares of Shopify by 2.0% in the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock valued at $526,000 after purchasing an additional 67 shares during the period. Moloney Securities Asset Management LLC increased its holdings in shares of Shopify by 1.8% in the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after purchasing an additional 70 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Shopify by 0.9% in the third quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after purchasing an additional 75 shares during the period. Finally, Seros Financial LLC increased its holdings in shares of Shopify by 2.7% in the third quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock valued at $424,000 after purchasing an additional 75 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 0.5%

Shopify stock opened at $118.80 on Tuesday. The firm has a market cap of $154.93 billion, a price-to-earnings ratio of 127.74, a price-to-earnings-growth ratio of 4.24 and a beta of 2.82. Shopify Inc. has a 52 week low of $69.99 and a 52 week high of $182.19. The business’s 50-day moving average price is $122.17 and its 200 day moving average price is $145.87.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Arete Research set a $175.00 price objective on Shopify in a report on Monday, February 2nd. Wells Fargo & Company cut their price objective on Shopify from $191.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday. UBS Group cut their price objective on Shopify from $165.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Jefferies Financial Group raised their target price on Shopify from $125.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, March 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 target price on shares of Shopify in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.70.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.