ICONIQ Capital LLC Sells 7,871 Shares of Shopify Inc. $SHOP

ICONIQ Capital LLC decreased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,667,602 shares of the software maker’s stock after selling 7,871 shares during the period. Shopify comprises 3.1% of ICONIQ Capital LLC’s holdings, making the stock its 7th largest position. ICONIQ Capital LLC’s holdings in Shopify were worth $247,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHOP. Brighton Jones LLC increased its position in Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after buying an additional 584 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after acquiring an additional 7,544 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Shopify by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after acquiring an additional 506 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Shopify by 5.9% during the second quarter. PNC Financial Services Group Inc. now owns 121,418 shares of the software maker’s stock worth $14,006,000 after acquiring an additional 6,739 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in shares of Shopify by 15.2% during the second quarter. Empower Advisory Group LLC now owns 16,448 shares of the software maker’s stock worth $1,897,000 after acquiring an additional 2,167 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SHOP shares. TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research report on Wednesday, February 11th. Arete Research set a $175.00 target price on shares of Shopify in a research report on Monday, February 2nd. ATB Cormark Capital Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Benchmark cut their price target on Shopify from $195.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Bank of America lifted their price target on Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Three 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.com, Shopify has an average rating of “Moderate Buy” and an average target price of $163.38.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $122.96 on Monday. The stock has a market capitalization of $160.35 billion, a price-to-earnings ratio of 132.22, a PEG ratio of 4.41 and a beta of 2.83. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The company has a 50 day moving average price of $133.91 and a 200 day moving average price of $148.73.

Shopify News Roundup

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Jefferies raised its price target after OpenAI decided not to enable in‑ChatGPT purchases, which Jefferies views as reducing a competitive threat to Shopify’s checkout and payments opportunity. This upgrade supports upside to monetization of AI-driven commerce. Jefferies Raises PT on Shopify (SHOP) Following OpenAI Decision
• Positive Sentiment: Piper Sandler initiated coverage with an “Overweight” rating and a $165 PT (~34% upside from the current level), citing payments and merchant growth as key drivers. Analyst coverage and a constructive PT can attract buyers. Benzinga Coverage Note
• Positive Sentiment: Shopify is embedding AI across commerce—enabling AI assistants to surface merchant catalogs and route transactions through Shopify’s checkout/payments—which could increase GMV capture and revenue per merchant if adoption scales. Shopify Bets Big on AI Commerce: Is it the Next Growth Catalyst?
• Positive Sentiment: Shopify’s Klaviyo integration (Locale Aware Catalogs) strengthens its enterprise and global merchant proposition by automating localized catalogs, pricing and marketing — a product move that targets larger brands and cross‑sell opportunities. Shopify And Klaviyo Integration Highlights Global Ambitions And Valuation Tension
• Positive Sentiment: Longer‑term bullish narratives: commentary (e.g., Motley Fool) places Shopify among AI winners that could materially expand value over several years, supporting a growth story for patient investors. Prediction: 2 AI Stocks Will Be Worth More Than Palantir Technologies in 5 Years
• Neutral Sentiment: Zacks notes the stock is up ~14% since the last earnings report, signaling recent momentum but asking whether that trend can continue without clearer earnings leverage. Shopify (SHOP) Up 14% Since Last Earnings Report: Can It Continue?
• Negative Sentiment: Zacks also highlights SHOP has declined ~11% over six months, reflecting recent volatility and investor concern about execution/valuation despite AI momentum. SHOP Declines 11% in 6 Months: Buy, Sell or Hold the Stock?
• Negative Sentiment: Service reliability concern — Downdetector reported outages affecting thousands of users; repeated or high‑impact outages can dent merchant trust and short‑term GMV. Shopify Down for Thousands of Users, Downdetector Reports
• Negative Sentiment: Valuation and technical pressure — SHOP trades below its 50‑ and 200‑day moving averages, has a high trailing P/E (~132) and elevated PEG (~4.65), which increases sensitivity to any slowdown in revenue/monetization.

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.