Arthedge Capital Management LLC Reduces Stake in Shopify Inc. $SHOP

Arthedge Capital Management LLC trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 146,600 shares of the software maker’s stock after selling 13,400 shares during the quarter. Shopify makes up approximately 15.5% of Arthedge Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Arthedge Capital Management LLC’s holdings in Shopify were worth $23,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SHOP. Norges Bank acquired a new stake in Shopify in the fourth quarter valued at approximately $2,611,797,000. Sands Capital Management LLC boosted its stake in Shopify by 37.0% in the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock valued at $1,530,187,000 after acquiring an additional 2,568,765 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake 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. Select Equity Group L.P. boosted its stake in Shopify by 92.5% in the second 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 in the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in Shopify in the third quarter valued at approximately $140,930,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on SHOP. Robert W. Baird set a $150.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Wells Fargo & Company lowered their target price on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. BMO Capital Markets lowered their target price on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Jefferies Financial Group restated a “hold” rating and issued a $140.00 target price (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $175.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Two investment 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’s stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify shareholders approved all director nominees and reappointed PricewaterhouseCoopers as auditor at the 2026 annual meeting, while also backing executive compensation and rejecting a proposed AI policy, which supports management’s current AI strategy. Article title
• Positive Sentiment: Shopify’s $5 billion buyback authorization remains a bullish signal for investors because it gives the company flexibility to repurchase shares and support per-share value. Article title
• Positive Sentiment: Bloomreach launched a new Sidekick extension for its Loomi for Shopify app, adding instant search-ranking visibility for merchants and reinforcing Shopify’s expanding AI/app ecosystem. Article title
• Positive Sentiment: Loox launched Reviewers.com, a product-sampling platform built exclusively for Shopify brands, highlighting continued third-party product development around the Shopify merchant base. Article title
• Neutral Sentiment: Shopify announced the results of its 2026 annual meeting, but the filing itself does not indicate a major new catalyst for the stock beyond the governance outcome. Article title
• Negative Sentiment: Despite supportive strategic news, Shopify has still been trading lower, suggesting investors may be taking profits or focusing on valuation after a strong run. Article title

Shopify Trading Down 4.5%

NASDAQ:SHOP opened at $108.09 on Thursday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The firm has a fifty day simple moving average of $113.56 and a 200-day simple moving average of $130.44. The company has a market capitalization of $140.26 billion, a P/E ratio of 107.02, a PEG ratio of 3.17 and a beta of 2.60.

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

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.