Barton Investment Management Sells 10,010 Shares of Shopify Inc. $SHOP

Key Points

• Barton Investment Management has decreased its holdings in Shopify by 10,010 shares, reducing its ownership to 1,718,366 shares, which accounts for approximately 20.5% of its investment portfolio.
• Shopify's latest earnings report showed $2.68 billion in revenue for the quarter, exceeding analyst expectations, and a year-over-year revenue increase of 31.1%.
• Analyst ratings for Shopify include a consensus of "Moderate Buy" with an average price target of $150.83, indicating a generally positive outlook from market analysts.

Barton Investment Management reduced its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,718,366 shares of the software maker's stock after selling 10,010 shares during the period. Shopify comprises about 20.5% of Barton Investment Management's investment portfolio, making the stock its 2nd biggest position. Barton Investment Management owned 0.13% of Shopify worth $198,214,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Worth Asset Management LLC bought a new stake in shares of Shopify in the 2nd quarter worth about $236,000. Avior Wealth Management LLC grew its holdings in shares of Shopify by 32.6% in the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker's stock worth $1,570,000 after purchasing an additional 3,347 shares during the last quarter. Integrity Alliance LLC. bought a new stake in shares of Shopify in the 1st quarter worth about $211,000. Jacobs & Co. CA bought a new stake in shares of Shopify in the 2nd quarter worth about $285,000. Finally, Focus Partners Wealth grew its holdings in shares of Shopify by 7.4% in the 1st quarter. Focus Partners Wealth now owns 288,722 shares of the software maker's stock worth $27,567,000 after purchasing an additional 19,908 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SHOP shares. Arete reaffirmed a "neutral" rating on shares of Shopify in a report on Wednesday, July 23rd. BMO Capital Markets increased their price objective on shares of Shopify from $120.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Zacks Research raised shares of Shopify to a "hold" rating in a report on Tuesday, August 12th. Cantor Fitzgerald set a $156.00 price objective on shares of Shopify and gave the stock a "neutral" rating in a report on Wednesday, August 27th. Finally, Atb Cap Markets lowered shares of Shopify from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 6th. Twenty-three analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $150.83.

Shopify Trading Up 1.2%

Shares of NASDAQ SHOP opened at $151.30 on Friday. The firm has a market capitalization of $196.64 billion, a PE ratio of 84.53, a price-to-earnings-growth 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 firm's 50-day moving average is $142.04 and its 200-day moving average is $116.66.

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

Shopify Company 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.

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