CIBC Asset Management Inc Has $691.40 Million Position in Shopify Inc. $SHOP

Key Points

• CIBC Asset Management trimmed its Shopify stake by 1.8% in the fourth quarter, but still held 4.28 million shares worth about $691.4 million, making Shopify its 13th-largest position.
• Shopify announced an additional $3 billion share repurchase authorization, bringing total buyback capacity to $5 billion, a move that can support shareholder value and signals management confidence.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and a price target around $157.17, even as some firms recently lowered their targets.

CIBC Asset Management Inc reduced its stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,280,528 shares of the software maker's stock after selling 79,585 shares during the period. Shopify accounts for approximately 1.7% of CIBC Asset Management Inc's investment portfolio, making the stock its 13th biggest position. CIBC Asset Management Inc owned approximately 0.33% of Shopify worth $691,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SHOP. Kingdom Financial Group LLC. acquired a new position in shares of Shopify in the fourth quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $29,000. Lodestone Wealth Management LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC grew its position in shares of Shopify by 82.4% in the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker's stock valued at $31,000 after purchasing an additional 89 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Shopify in the fourth quarter valued at approximately $31,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify authorized an additional $3 billion for share repurchases, increasing total buyback capacity to $5 billion. Buybacks can boost shareholder value by reducing share count and often signal strong free cash flow and confidence in future performance. Article Title
• Positive Sentiment: Recent commentary highlighted improving fundamentals, including expanding margins, accelerating gross merchandise volume, and deeper AI integration across Shopify’s platform, which supports the long-term growth narrative for SHOP. Article Title
• Positive Sentiment: Another note pointed to strong investor interest, with Zacks saying Shopify is a “trending stock,” suggesting the name remains heavily watched by traders looking for a catalyst. Article Title
• Neutral Sentiment: Articles about Shopify Plus enterprise features and Reddit’s expanded Shopify partnership are supportive of the ecosystem, but they do not appear to be direct stock-moving catalysts today. Article Title Article Title
• Negative Sentiment: One article raised concern that higher large language model costs could pressure Subscription Solutions margins even as Shopify’s AI assistant Sidekick grows quickly, which could temper enthusiasm around AI investments if costs keep rising. Article Title

Analyst Ratings Changes

Several equities analysts have recently commented on SHOP shares. Robert W. Baird set a $150.00 target price on Shopify in a research report on Wednesday, May 6th. Canaccord Genuity Group decreased their target price on Shopify from $165.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Stifel Nicolaus set a $115.00 target price on Shopify and gave the company a "hold" rating in a research report on Wednesday, February 11th. Barclays set a $126.00 target price on Shopify and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company decreased their price target on shares of Shopify from $166.00 to $144.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.17.

Shopify Price Performance

Shares of Shopify stock opened at $124.12 on Wednesday. The company has a market capitalization of $161.07 billion, a price-to-earnings ratio of 122.89, a PEG ratio of 3.48 and a beta of 2.60. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The firm's 50-day moving average price is $114.75 and its two-hundred day moving average price is $133.64.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, sell-side analysts expect that Shopify Inc. will post 1.36 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.