Shopify Inc. $SHOP Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC reduced its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 22.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,402 shares of the software maker’s stock after selling 25,299 shares during the quarter. Rafferty Asset Management LLC’s holdings in Shopify were worth $12,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Shopify by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker’s stock worth $7,417,517,000 after acquiring an additional 610,129 shares in the last quarter. Jennison Associates LLC raised its position in shares of Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after acquiring an additional 7,403,821 shares in the last quarter. Norges Bank bought a new position in Shopify during the second quarter worth $1,794,952,000. Loomis Sayles & Co. L P lifted its stake in Shopify by 1.3% during the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after purchasing an additional 191,824 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Shopify by 19.9% in the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after purchasing an additional 1,781,530 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 4.1%

NASDAQ SHOP opened at $120.73 on Monday. The company has a 50-day moving average price of $141.56 and a two-hundred day moving average price of $149.63. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The stock has a market cap of $157.17 billion, a price-to-earnings ratio of 129.82, a price-to-earnings-growth ratio of 4.40 and a beta of 2.83.

Analyst Ratings Changes

SHOP has been the topic of a number of research reports. Citigroup reissued a “buy” rating and set a $172.00 target price (down from $195.00) on shares of Shopify in a report on Friday, February 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $126.00 price objective (down from $181.00) on shares of Shopify in a research report on Thursday, February 12th. Canaccord Genuity Group set a $165.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Thursday, February 12th. Robert W. Baird set a $160.00 target price on Shopify in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada set a $170.00 target price on Shopify and gave the company an “outperform” rating in a report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $162.64.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Large buyback and AI roadmap — Shopify announced a US$2 billion share buyback and introduced agentic storefronts plus the Universal Commerce Protocol, signaling aggressive capital return and a push to embed AI into merchants’ stacks, which can support revenue and margin expansion over time. Shopify Buyback And AI Push Test Valuation And Growth Expectations
• Positive Sentiment: GMV growth and AI integration — Portfolio commentary and independent coverage point to reaccelerating GMV coupled with deeper AI integration, reinforcing the case that product-led improvements are translating into merchant activity and payment/fulfillment revenue. Shopify (SHOP) GMV Growth Reaccelerates as AI Integration Strengthens Investment Case
• Neutral Sentiment: Industry AI tooling evolution — Third‑party AI imaging and product-fidelity advances (Rewarx Studio) highlight broader e‑commerce tooling improvements that benefit platforms like Shopify indirectly; helpful for merchant UX but not an immediate revenue catalyst. How Rewarx Studio AI is Solving the Fidelity Crisis in AI Product Photography: A Data-Driven Leap Across Global E-commerce Brands
• Neutral Sentiment: Investor interest and coverage — Multiple retail analyst/coverage pieces (Zacks, Seeking Alpha comparisons) are driving attention and search volume; these increase liquidity and volatility but offer mixed buy/sell signals. Is Trending Stock Shopify Inc. (SHOP) a Buy Now?
• Negative Sentiment: Analyst price-target cut and valuation pressure — Jefferies lowered its price target (from $160 to $125), citing softer software-sector multiples and valuation risk; with SHOP trading well above its 52‑week low and still a high P/E, this weighs on near-term sentiment. Shopify Inc’s (SHOP) Target Price Lowered Amid Lower Software Valuation Concerns
• Negative Sentiment: Profit-taking after recent run and technicals — The stock’s drop comes amid a recent run-up, lower intraday volume versus average, and price sitting below its 50- and 200-day moving averages, which can trigger momentum-driven selling. Why Shopify (SHOP) Stock Is Up Today

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.