Fred Alger Management LLC Buys 297,709 Shares of Shopify Inc. $SHOP

Fred Alger Management LLC grew its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 102.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 588,028 shares of the software maker’s stock after acquiring an additional 297,709 shares during the quarter. Fred Alger Management LLC’s holdings in Shopify were worth $94,655,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Manchester Global Management UK Ltd bought a new stake in shares of Shopify during the 4th quarter valued at about $24,621,000. Melqart Asset Management UK Ltd boosted its position in shares of Shopify by 134.3% during the 4th quarter. Melqart Asset Management UK Ltd now owns 32,388 shares of the software maker’s stock valued at $5,213,000 after acquiring an additional 18,566 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Shopify by 17.4% during the 4th quarter. Blair William & Co. IL now owns 610,733 shares of the software maker’s stock valued at $98,310,000 after acquiring an additional 90,546 shares during the last quarter. Night Squared LP bought a new stake in shares of Shopify during the 4th quarter valued at about $2,481,000. Finally, Polar Capital Holdings Plc boosted its position in shares of Shopify by 52.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,678,793 shares of the software maker’s stock valued at $270,235,000 after acquiring an additional 578,767 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.7%

Shares of NASDAQ SHOP opened at $113.23 on Wednesday. The stock has a market cap of $146.93 billion, a price-to-earnings ratio of 112.11, a P/E/G ratio of 3.15 and a beta of 2.60. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The stock’s 50-day moving average is $113.77 and its 200 day moving average is $130.80.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. On average, analysts forecast that Shopify Inc. will post 1.36 EPS for the current fiscal year.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify said its board authorized an additional $3 billion share repurchase, lifting the total buyback authorization to $5 billion. That signals confidence in the company’s cash generation and can support the stock by reducing share count. Is Shopify (SHOP) One of the Best Tech Stocks to Invest In on the Dip?
• Positive Sentiment: Analysts and media coverage continue to highlight Shopify’s AI retail infrastructure potential, with the company using AI tools, commerce data, and shopping-channel integrations to position itself for next-generation retail growth. Is Shopify Building the Future Infrastructure for AI Retail?
• Positive Sentiment: Coverage from Zacks and other outlets notes earnings growth and price strength, reinforcing the view that Shopify remains a stock to watch among momentum investors. Earnings Growth & Price Strength Make Shopify (SHOP) a Stock to Watch
• Neutral Sentiment: At Shopify’s 2026 annual meeting, shareholders elected all director nominees, reappointed PricewaterhouseCoopers as auditor, and approved executive compensation on an advisory basis. The company also said a shareholder proposal for an AI policy was not approved, which removes some governance uncertainty but is unlikely to be a major stock catalyst. Shopify Announces Results of its 2026 Annual Meeting of Shareholders
• Neutral Sentiment: One market commentary put a hold rating on Shopify and suggested limited downside from current levels, reflecting that the stock is still viewed as fairly valued by some observers rather than deeply mispriced. Wall Street Has 38 Buy Ratings on Shopify and One Sell. But We Disagree.
• Negative Sentiment: A shareholder proposal on an AI policy was rejected at the annual meeting, and some coverage has framed this as an ongoing governance issue, though it appears to be a secondary factor versus the buyback and growth narrative. Shopify board fighting shareholder push to create AI policy

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHOP. Robert W. Baird set a $150.00 price target on Shopify in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $180.00 price target on shares of Shopify in a research report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Piper Sandler reissued an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $140.00 price objective (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

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.