Barton Investment Management Sells 37,467 Shares of Shopify Inc. $SHOP

Key Points

• Barton Investment Management trimmed its Shopify stake by 2.3% in the first quarter, selling 37,467 shares and leaving it with 1,602,959 shares valued at about $190.1 million.
• Despite the sale, Shopify remains a major holding for Barton, making up about 23.8% of the fund’s portfolio and its second-largest position.
• Wall Street sentiment on Shopify remains generally positive, with a consensus Moderate Buy rating, even as several analysts recently lowered price targets and the stock traded down around 2.2% to $111.62.

Barton Investment Management reduced its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,602,959 shares of the software maker's stock after selling 37,467 shares during the period. Shopify accounts for about 23.8% of Barton Investment Management's holdings, making the stock its 2nd biggest position. Barton Investment Management owned about 0.12% of Shopify worth $190,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker's stock worth $8,158,643,000 after acquiring an additional 743,803 shares during the last quarter. Norges Bank purchased a new stake in Shopify in the 4th quarter worth approximately $2,611,797,000. Invesco Ltd. raised its holdings in Shopify by 9.8% in the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker's stock valued at $2,257,796,000 after acquiring an additional 1,252,074 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Shopify by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker's stock worth $2,043,365,000 after purchasing an additional 737,892 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Shopify by 9.1% during the 4th quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker's stock worth $1,627,352,000 after purchasing an additional 827,643 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify shares had a strong session earlier this week, with a volume-backed jump that suggests traders are still willing to buy the dip, even as near-term earnings estimate revisions appear less supportive of immediate upside. Shopify (SHOP) Surges 6.0%: Is This an Indication of Further Gains?
• Positive Sentiment: Shopify continues to receive generally bullish Wall Street coverage, with the average brokerage recommendation leaning toward Buy, which can help support investor confidence in the stock’s longer-term growth story. Is It Worth Investing in Shopify (SHOP) Based on Wall Street's Bullish Views?
• Neutral Sentiment: A new Shopify-native fraud prevention app from SEON and Domaine adds to the platform’s merchant tools, but the announcement appears more incremental than materially moving for the stock. SEON and Domaine Launch New Shopify-Native Fraud Prevention App for High Growth Brands
• Neutral Sentiment: Shopify’s AI infrastructure work, including multi-provider failover for engineers, highlights operational sophistication, but it is not an immediate catalyst for shares. How Shopify built an AI stack that doesn't care which models survive
• Negative Sentiment: Recent analysis says Shopify has fallen more than the broader market in the latest session, reflecting continued investor caution after a strong run and concerns that valuation may still be demanding. Here's Why Shopify (SHOP) Fell More Than Broader Market
• Negative Sentiment: One article argues that Shopify’s recent rebound may not be fully justified at current levels, suggesting investors are still debating whether the stock is priced for perfection. Shopify (SHOP) Stock After Recent Rebound Is The Current Price Still Justified

Wall Street Analyst Weigh In

SHOP has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered their price objective on Shopify from $165.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Wells Fargo & Company reduced their target price on Shopify from $166.00 to $144.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. Piper Sandler reissued an "overweight" rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Oppenheimer restated an "outperform" rating and issued a $175.00 price target on shares of Shopify in a report on Wednesday, May 6th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Shopify in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $157.17.

Shopify Trading Down 2.2%

SHOP stock opened at $111.62 on Friday. The company has a market cap of $144.84 billion, a PE ratio of 110.52, a price-to-earnings-growth ratio of 3.14 and a beta of 2.60. The stock has a 50-day moving average price of $112.89 and a two-hundred day moving average price of $128.41. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $998.78. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. Equities analysts forecast that Shopify Inc. will post 1.39 EPS for the current fiscal year.

About Shopify

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.

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