Barton Investment Management Has $93.29 Million Stake in Shopify Inc (NYSE:SHOP)

Barton Investment Management lowered its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 299,320 shares of the software maker’s stock after selling 2,965 shares during the quarter. Shopify makes up about 15.6% of Barton Investment Management’s investment portfolio, making the stock its 2nd largest position. Barton Investment Management owned approximately 0.27% of Shopify worth $93,286,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in shares of Shopify by 8.4% during the second quarter. Baillie Gifford & Co. now owns 6,418,913 shares of the software maker’s stock worth $1,926,637,000 after acquiring an additional 498,874 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in Shopify by 29,316.3% in the second quarter. Thoroughbred Financial Services LLC now owns 1,533,766 shares of the software maker’s stock valued at $153,377,000 after purchasing an additional 1,528,552 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shopify by 5.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 619,775 shares of the software maker’s stock valued at $186,670,000 after purchasing an additional 29,283 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Shopify by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 601,609 shares of the software maker’s stock valued at $180,574,000 after purchasing an additional 19,842 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Shopify by 15.3% in the second quarter. Swiss National Bank now owns 362,400 shares of the software maker’s stock valued at $108,910,000 after purchasing an additional 48,200 shares during the last quarter. Institutional investors own 59.16% of the company’s stock.

A number of equities research analysts recently commented on SHOP shares. Robert W. Baird upped their price objective on Shopify from $370.00 to $410.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Mackie upped their price objective on Shopify from $280.00 to $360.00 and gave the company a “buy” rating in a report on Monday, July 15th. Barclays upped their price objective on Shopify from $225.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, June 21st. William Blair reiterated a “hold” rating on shares of Shopify in a report on Tuesday, September 10th. Finally, CIBC set a $350.00 price objective on Shopify and gave the company a “hold” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $341.67.

Shares of Shopify stock traded down $19.35 during trading hours on Wednesday, hitting $326.73. The company’s stock had a trading volume of 1,840,369 shares, compared to its average volume of 2,784,072. Shopify Inc has a 12 month low of $117.64 and a 12 month high of $409.61. The stock has a 50 day moving average of $341.89 and a 200 day moving average of $301.87. The company has a market capitalization of $37.05 billion, a PE ratio of -535.62 and a beta of 1.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.44 and a quick ratio of 11.44.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.45. Shopify had a negative return on equity of 3.85% and a negative net margin of 5.98%. The company had revenue of $361.98 million during the quarter, compared to the consensus estimate of $350.59 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. Equities analysts expect that Shopify Inc will post -0.82 EPS for the current year.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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