Shopify Inc. (NYSE:SHOP) is Barton Investment Management's 2nd Largest Position

Barton Investment Management lessened its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,728,376 shares of the software maker's stock after selling 144,621 shares during the period. Shopify makes up approximately 20.3% of Barton Investment Management's holdings, making the stock its 2nd largest position. Barton Investment Management owned about 0.13% of Shopify worth $165,025,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Shopify during the 4th quarter valued at about $1,542,262,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Shopify by 631.3% during the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock valued at $474,187,000 after purchasing an additional 3,849,796 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Shopify by 623.8% during the 4th quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker's stock valued at $198,932,000 after purchasing an additional 2,228,091 shares during the last quarter. Finally, Durable Capital Partners LP boosted its holdings in shares of Shopify by 86.9% during the 4th quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker's stock valued at $420,041,000 after purchasing an additional 1,836,294 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SHOP shares. Citigroup increased their price objective on shares of Shopify from $143.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. DA Davidson lowered their price target on shares of Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank of Canada lowered their price target on shares of Shopify from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Loop Capital lowered their price target on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Atb Cap Markets raised shares of Shopify from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of "Moderate Buy" and an average target price of $115.11.

Shopify Stock Up 2.3%

SHOP stock traded up $2.46 during midday trading on Tuesday, hitting $110.26. The company's stock had a trading volume of 6,537,404 shares, compared to its average volume of 9,399,565. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a market capitalization of $142.77 billion, a P/E ratio of 71.14, a PEG ratio of 4.82 and a beta of 2.63. The firm has a 50-day simple moving average of $96.72 and a 200-day simple moving average of $105.09.

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.