Brown Capital Management LLC Sells 36,640 Shares of Shopify Inc. $SHOP

Brown Capital Management LLC lowered its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,136 shares of the software maker’s stock after selling 36,640 shares during the quarter. Shopify makes up approximately 2.3% of Brown Capital Management LLC’s portfolio, making the stock its 20th biggest position. Brown Capital Management LLC’s holdings in Shopify were worth $56,343,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SHOP. Financial Gravity Companies Inc. bought a new position in shares of Shopify during the 2nd quarter valued at $27,000. Rothschild Investment LLC boosted its position in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the period. Heartwood Wealth Advisors LLC bought a new position in shares of Shopify during the third quarter valued at about $27,000. Tradewinds Capital Management LLC grew its stake in shares of Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Finally, Estabrook Capital Management purchased a new position in shares of Shopify in the second quarter worth about $29,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of SHOP opened at $132.20 on Tuesday. The company has a 50-day simple moving average of $157.91 and a two-hundred day simple moving average of $151.57. The firm has a market capitalization of $172.10 billion, a PE ratio of 97.93, a price-to-earnings-growth ratio of 3.87 and a beta of 2.83. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. Analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Analysts at Seeking Alpha upgraded SHOP to a Buy ahead of Q4 2025, arguing Shopify’s AI and “agentic commerce” initiatives could re-accelerate revenue and expand addressable market; management’s Q4 guidance (25–29% sales growth, 20–25% gross profit growth) is positioned to be beatable, supporting upside expectations. Upgrading Shopify On Agentic Commerce Inflection Point (Earnings Preview)
• Positive Sentiment: Arete Research moved SHOP from Neutral to Buy, adding upward analyst momentum to the stock after the recent pullback; analyst upgrades can prompt short-term buying interest. Finviz
• Positive Sentiment: Technical analysts note Shopify bounced off a near six‑month trendline during the recent pullback, suggesting a potential extension of the bounce if that support holds — a constructive setup for traders looking for mean reversion. Shopify Stock Could Extend a Bounce Off This Trendline
• Positive Sentiment: Broader market strength and improved macro data (better manufacturing prints and strong Q4 earnings across sectors) provide a tailwind that can lift high‑beta, growth names like SHOP alongside the market rebound. Market Indexes Bounce Back to Start a New Trading Week
• Neutral Sentiment: The Information’s coverage of AI shopping competition outlines industry shifts (rival alliances vs. Amazon); this is a strategic backdrop that could benefit Shopify over time but does not create immediate earnings certainty. In AI Shopping Wars, Rivals Team Up to Take On Amazon
• Neutral Sentiment: Sector/style pieces and comparative analyses (e.g., AmericanBankingNews) are weighing SHOP relative to peers; useful for context but unlikely to move price materially on their own. Analyzing MiX Telematics (NYSE:MIXT) and Shopify (NASDAQ:SHOP)
• Neutral Sentiment: Public comments from co‑founder Tobi Lütke (human interest/leadership tone) are notable for governance/culture context but are unlikely to change near‑term fundamentals. ‘Companies Cocoon Them,’ Shopify Co-Founder Tobi Lütke Says—Why Ex-Entrepreneurs Get Pushed To The ‘Outskirts’ Instead Of Promoted
• Negative Sentiment: A bearish Forbes piece argues for selling SHOP around $130 after a ~22% drop since early January, highlighting downside risk and short-term momentum concerns — a narrative that can amplify selling pressure and volatility. Sell Shopify Stock At $130?

Analyst Ratings Changes

Several equities research analysts recently weighed in on SHOP shares. Canaccord Genuity Group increased their target price on Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. BMO Capital Markets boosted their price objective on Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Oppenheimer reissued an “outperform” rating on shares of Shopify in a research note on Monday, December 1st. JPMorgan Chase & Co. lifted their target price on shares of Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $200.00 price target on shares of Shopify and gave the company an “outperform” rating in a research report on Monday, January 26th. Twenty-five research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $171.70.

Shopify Company 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.