Shopify Inc. $SHOP Stock Holdings Lowered by Barton Investment Management

Barton Investment Management cut its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,602,959 shares of the software maker’s stock after selling 37,467 shares during the period. Shopify makes up approximately 23.8% of Barton Investment Management’s holdings, making the stock its 2nd largest holding. Barton Investment Management’s holdings in Shopify were worth $190,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Norges Bank purchased a new position in Shopify in the 4th quarter valued at about $2,611,797,000. Sands Capital Management LLC increased its stake in shares of Shopify by 37.0% in the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after buying an additional 2,568,765 shares during the last quarter. Invesco Ltd. raised its holdings in Shopify by 9.8% in the fourth 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 in the last quarter. Thrivent Financial for Lutherans raised its holdings in Shopify by 7,207.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after acquiring an additional 1,132,545 shares in the last quarter. Finally, Select Equity Group L.P. boosted its stake in Shopify by 92.5% during the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock valued at $259,124,000 after acquiring an additional 1,079,494 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on SHOP shares. 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 report on Wednesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 target price on shares of Shopify in a research note on Wednesday, May 6th. National Bank Financial dropped their target price on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Barclays set a $126.00 price target on shares of Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Shopify in a report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $157.17.

Key Stories 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

Shopify Trading Down 2.2%

NASDAQ SHOP opened at $111.62 on Friday. The company 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 52 week low of $94.00 and a 52 week high of $182.19. The stock has a market cap of $144.84 billion, a price-to-earnings ratio of 110.52, a price-to-earnings-growth ratio of 3.14 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. As a group, equities research analysts expect that Shopify Inc. will post 1.39 earnings per share for the current fiscal year.

Shopify Profile

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.