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

Barton Investment Management cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,872,997 shares of the software maker’s stock after selling 22,140 shares during the quarter. Shopify comprises approximately 21.1% of Barton Investment Management’s portfolio, making the stock its 2nd biggest position. Barton Investment Management owned approximately 0.14% of Shopify worth $199,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Choreo LLC boosted its stake in Shopify by 25.5% during the 4th quarter. Choreo LLC now owns 33,770 shares of the software maker’s stock valued at $3,599,000 after purchasing an additional 6,868 shares during the last quarter. Weaver Capital Management LLC grew its stake in shares of Shopify by 6.0% during the 4th quarter. Weaver Capital Management LLC now owns 53,185 shares of the software maker’s stock valued at $5,655,000 after purchasing an additional 2,999 shares during the period. Sargent Investment Group LLC purchased a new stake in Shopify during the fourth quarter valued at approximately $319,000. Mather Group LLC. lifted its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its stake in shares of Shopify by 13.1% during the 4th quarter. Brown Lisle Cummings Inc. now owns 8,220 shares of the software maker’s stock valued at $874,000 after acquiring an additional 950 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SHOP shares. Scotiabank raised their price target on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Moffett Nathanson lifted their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective on the stock. Mizuho boosted their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Barclays raised their price target on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $100.32.

Shopify Stock Performance

Shopify stock opened at $121.89 on Thursday. The company has a market cap of $157.49 billion, a PE ratio of 113.91, a P/E/G ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $122.00. The company has a fifty day moving average price of $110.57 and a two-hundred day moving average price of $89.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Shopify 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.