141,643 Shopify Inc. $SHOP Shares Bought by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management increased its Shopify stake by 5,981.5% in the third quarter, buying 141,643 additional shares for a total of 144,011 shares valued at approximately $21.4 million. Institutional investors collectively own 69.27% of Shopify.
• Analysts maintain a generally positive outlook, with Shopify holding a consensus “Moderate Buy” rating and an average price target of $177.79; individual targets range from $130 to $200.
• Shopify reported quarterly revenue of $3.58 billion, up 33.7% year over year, and earnings of $0.42 per share, exceeding expectations. However, the stock’s premium valuation—about 106 times earnings—leaves investors focused on continued growth, AI investment and potential margin pressure.

Cidel Asset Management Inc. raised its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 5,981.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,011 shares of the software maker's stock after purchasing an additional 141,643 shares during the quarter. Cidel Asset Management Inc.'s holdings in Shopify were worth $21,394,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Shopify by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker's stock worth $998,137,000 after acquiring an additional 660,198 shares during the period. Swiss National Bank raised its position in Shopify by 27.0% in the first quarter. Swiss National Bank now owns 4,115,300 shares of the software maker's stock valued at $487,580,000 after purchasing an additional 876,100 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Shopify by 4.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,678,602 shares of the software maker's stock valued at $436,356,000 after purchasing an additional 145,500 shares during the period. Bank of New York Mellon Corp raised its position in Shopify by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 3,495,964 shares of the software maker's stock valued at $414,691,000 after purchasing an additional 159,873 shares during the period. Finally, Amova Asset Management Americas Inc. lifted its stake in shares of Shopify by 5.0% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,458,265 shares of the software maker's stock valued at $410,219,000 after purchasing an additional 165,080 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SHOP shares. Phillip Securities cut Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, August 17th. BTIG Research began coverage on Shopify in a research report on Friday, July 10th. They set a "buy" rating for the company. Cantor Fitzgerald boosted their price objective on shares of Shopify from $145.00 to $158.00 and gave the company a "neutral" rating in a report on Monday, October 12th. JPMorgan Chase & Co. upped their target price on shares of Shopify from $185.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, October 6th. Finally, Rothschild & Co Redburn set a $130.00 target price on shares of Shopify and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $177.79.

Shopify Stock Down 5.6%

NASDAQ:SHOP opened at $157.49 on Friday. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average is $152.78 and its two-hundred day moving average is $130.26. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $180.88. The stock has a market capitalization of $202.63 billion, a price-to-earnings ratio of 106.41, a price-to-earnings-growth ratio of 3.25 and a beta of 2.62.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%. The business had revenue of $3.58 billion during the quarter. During the same period in the previous year, the firm posted $0.69 earnings per share. The company's quarterly revenue was up 33.7% compared to the same quarter last year. Research analysts anticipate that Shopify Inc. will post 1.46 EPS for the current year.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Condé Nast is bringing curated product selections from Vogue, GQ and other brands to Shopify’s Shop app. The partnership could increase consumer engagement, product discovery and transaction volume. Condé Nast brings product picks to Shop app
• Positive Sentiment: Shopify is broadening access to AI agents that can support commerce activity, while third-party platforms such as DRINKS are using Shopify technology to enable multi-supplier digital alcohol sales. These developments support Shopify’s positioning in AI-enabled commerce. NCR Voyix Scoops up Bruster’s; Shopify Broadens AI Agent Access
• Positive Sentiment: Shopify POS was named an overall leader in a 2026 small-business point-of-sale scorecard, reinforcing the company’s competitive position beyond its core online-store platform. 2026 Small Business POS System Scorecard
• Positive Sentiment: Analysis highlights a reported 97% retention rate among merchants that reach $10 million in annual gross merchandise volume, supporting recurring revenue and expansion potential despite competition from Adobe and Commerce.com. Can Shopify’s Strong Merchant Retention Sustain Revenue Growth?
• Neutral Sentiment: Heavy investor searches and a bullish options strategy indicate heightened attention and an optimistic trading bias, but neither provides evidence of improved fundamentals. Investors Heavily Search Shopify
• Negative Sentiment: Pre-earnings coverage warns that Shopify’s strong sales growth may be offset by higher AI investment and margin pressure. With the stock trading at a premium valuation, investors may be demanding continued earnings and profit improvement. Shopify’s Booming Sales Come With a Costly Catch

Shopify Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants' own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.

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