Hillsdale Investment Management Inc. Has $46.06 Million Stock Holdings in Shopify Inc. $SHOP

Key Points

• Hillsdale Investment Management cut its Shopify stake by 19% in the first quarter, selling 91,133 shares and leaving it with 388,301 shares worth about $46.1 million.
• Other institutional investors also made mixed moves in Shopify, and overall institutional ownership remains high at 69.27%.
• Analyst sentiment is broadly positive: Shopify has a Moderate Buy consensus rating, with recent upgrades including Zacks moving the stock to Strong Buy and Jefferies highlighting upside tied to AI-driven commerce trends.

Hillsdale Investment Management Inc. decreased its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 19.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 388,301 shares of the software maker's stock after selling 91,133 shares during the period. Shopify accounts for approximately 1.3% of Hillsdale Investment Management Inc.'s holdings, making the stock its 17th biggest holding. Hillsdale Investment Management Inc.'s holdings in Shopify were worth $46,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SHOP. Brighton Jones LLC increased its holdings in shares of Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock valued at $2,252,000 after purchasing an additional 584 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker's stock worth $1,392,000 after buying an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Shopify by 6.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker's stock worth $945,000 after buying an additional 506 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in Shopify in the 2nd quarter valued at $53,000. Finally, Main Street Financial Solutions LLC boosted its position in Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker's stock valued at $1,284,000 after buying an additional 1,479 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research reports. Zacks Research raised Shopify from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 7th. Weiss Ratings lowered Shopify from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a "buy" rating and issued a $180.00 price target on shares of Shopify in a report on Tuesday, May 5th. Stifel Nicolaus set a $150.00 price objective on Shopify and gave the stock a "buy" rating in a research report on Thursday. Finally, BMO Capital Markets initiated coverage on Shopify in a report on Friday. They set a "market perform" rating for the company. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Shopify has an average rating of "Moderate Buy" and a consensus target price of $157.58.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Jefferies turned more bullish on Shopify, citing early signs of strong second-quarter trends, a revamped partner program, and expectations for a coming price increase. The firm also said Shopify is well positioned to benefit from “agentic commerce” and AI-driven shopping tools. Shopify upgraded to Buy at Jefferies on agentic commerce bet
• Positive Sentiment: Additional coverage reinforced the same theme, with Wall Street commentary highlighting Shopify’s potential as an infrastructure layer for AI-powered commerce and noting meaningful upside to the shares. Jefferies Says Shopify Is Built for the Age of AI
• Positive Sentiment: Market chatter also pointed to a broader bullish analyst backdrop for Shopify, with Jefferies joining other optimistic calls and helping drive investor enthusiasm around the stock’s AI growth story. SHOP Stock Gains Overnight: Jefferies Joins Wall Street Bulls, Sees 31% Upside Potential For Shopify
• Neutral Sentiment: Other roundup articles mentioned Shopify in lists of attractive stocks and analyst calls, but they did not add new company-specific developments beyond the upgrade narrative. Here Are Monday's Best Wall Street Analyst Research Calls

Shopify Trading Up 1.8%

NASDAQ:SHOP opened at $124.74 on Tuesday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The business's 50-day moving average price is $111.19 and its two-hundred day moving average price is $124.61. The firm has a market capitalization of $161.87 billion, a price-to-earnings ratio of 123.51, a PEG ratio of 2.66 and a beta of 2.58.

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.

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