Alliancebernstein L.P. Sells 120,794 Shares of Shopify Inc. $SHOP

Key Points

• AllianceBernstein trimmed its Shopify stake by 2.2%, selling 120,794 shares and holding 5,379,385 shares worth about $799.4 million at the end of the quarter.
• Other institutions made large moves—Norges Bank opened a new multi‑hundred‑million dollar position, Jennison bought an additional 7.4 million shares, Vanguard increased its stake to 49.3 million shares—and institutional ownership now stands at 69.27%.
• Analyst sentiment is broadly constructive (consensus "Moderate Buy" and a $163.38 average price target) but the stock faces valuation and technical pressure—market cap ~$160B, P/E ~132, trading below its 50‑ and 200‑day moving averages—and mixed news flow (AI monetization upside vs. outages and recent volatility).

Alliancebernstein L.P. decreased its holdings in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,379,385 shares of the software maker's stock after selling 120,794 shares during the period. Alliancebernstein L.P. owned 0.41% of Shopify worth $799,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SHOP. Norges Bank bought a new position in Shopify in the 2nd quarter worth approximately $1,794,952,000. Jennison Associates LLC grew its stake in Shopify by 64.3% in 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 buying an additional 7,403,821 shares in the last quarter. Brown Advisory Inc. raised its holdings in Shopify by 5,193.6% during the 2nd quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker's stock valued at $238,419,000 after acquiring an additional 2,027,839 shares during the period. Picton Mahoney Asset Management raised its holdings in Shopify by 246,359.0% during the 2nd quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker's stock valued at $202,146,000 after acquiring an additional 1,759,003 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Shopify by 2.8% during the second quarter. Vanguard Group Inc. now owns 49,316,695 shares of the software maker's stock worth $5,688,053,000 after acquiring an additional 1,354,415 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Trending Headlines about Shopify

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 Stock Performance

NASDAQ SHOP opened at $122.96 on Friday. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The company has a fifty day moving average of $133.91 and a 200-day moving average of $148.67. The company has a market capitalization of $160.07 billion, a P/E ratio of 132.22, a P/E/G ratio of 4.41 and a beta of 2.83.

Analysts Set New Price Targets

SHOP has been the subject of several recent research reports. Canaccord Genuity Group set a $165.00 price target on Shopify and gave the company a "buy" rating in a research report on Thursday, February 12th. Benchmark dropped their price objective on Shopify from $195.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. Evercore set a $135.00 target price on Shopify in a research note on Wednesday, February 11th. Truist Financial set a $150.00 target price on Shopify and gave the company a "buy" rating in a report on Tuesday, February 17th. Finally, Moffett Nathanson raised shares of Shopify from a "neutral" rating to a "buy" rating and set a $150.00 price objective for the company in a research note on Monday, February 9th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Shopify has an average rating of "Moderate Buy" and a consensus price target of $163.38.

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.

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