Manchester Global Management UK Ltd Invests $24.62 Million in Shopify Inc. $SHOP

Key Points

• Manchester Global Management UK Ltd opened a new position in Shopify, buying 152,956 shares valued at about $24.62 million. Shopify now makes up roughly 3.3% of the firm’s holdings.
• Other institutions also increased their stakes, and 69.27% of Shopify’s stock is owned by institutional investors and hedge funds, showing strong professional interest in the company.
• Shopify’s recent news flow has been positive, led by a $3 billion share repurchase expansion to a total of $5 billion and continued optimism around its AI-driven retail infrastructure story.

Manchester Global Management UK Ltd acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 152,956 shares of the software maker's stock, valued at approximately $24,621,000. Shopify accounts for approximately 3.3% of Manchester Global Management UK Ltd's holdings, making the stock its 15th biggest holding.

A number of other large investors have also bought and sold shares of the stock. Melqart Asset Management UK Ltd grew its holdings in Shopify by 134.3% in the fourth quarter. Melqart Asset Management UK Ltd now owns 32,388 shares of the software maker's stock worth $5,213,000 after purchasing an additional 18,566 shares during the period. Blair William & Co. IL grew its holdings in Shopify by 17.4% in the fourth quarter. Blair William & Co. IL now owns 610,733 shares of the software maker's stock worth $98,310,000 after purchasing an additional 90,546 shares during the period. Night Squared LP acquired a new stake in Shopify in the fourth quarter worth $2,481,000. Polar Capital Holdings Plc grew its holdings in Shopify by 52.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,678,793 shares of the software maker's stock worth $270,235,000 after purchasing an additional 578,767 shares during the period. Finally, Oddo BHF Asset Management Sas grew its holdings in Shopify by 13.2% in the fourth quarter. Oddo BHF Asset Management Sas now owns 122,698 shares of the software maker's stock worth $19,751,000 after purchasing an additional 14,298 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Needham & Company LLC restated a "buy" rating and issued a $180.00 price target on shares of Shopify in a report on Tuesday, May 5th. Weiss Ratings cut shares of Shopify from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Truist Financial set a $150.00 price target on shares of Shopify and gave the stock a "buy" rating in a report on Tuesday, February 17th. UBS Group restated a "neutral" rating on shares of Shopify in a report on Thursday, May 28th. Finally, Citigroup reduced their price target on shares of Shopify from $163.00 to $156.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Two equities research 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. According to MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.17.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify said its board authorized an additional $3 billion share repurchase, lifting the total buyback authorization to $5 billion. That signals confidence in the company’s cash generation and can support the stock by reducing share count. Is Shopify (SHOP) One of the Best Tech Stocks to Invest In on the Dip?
• Positive Sentiment: Analysts and media coverage continue to highlight Shopify’s AI retail infrastructure potential, with the company using AI tools, commerce data, and shopping-channel integrations to position itself for next-generation retail growth. Is Shopify Building the Future Infrastructure for AI Retail?
• Positive Sentiment: Coverage from Zacks and other outlets notes earnings growth and price strength, reinforcing the view that Shopify remains a stock to watch among momentum investors. Earnings Growth & Price Strength Make Shopify (SHOP) a Stock to Watch
• Neutral Sentiment: At Shopify’s 2026 annual meeting, shareholders elected all director nominees, reappointed PricewaterhouseCoopers as auditor, and approved executive compensation on an advisory basis. The company also said a shareholder proposal for an AI policy was not approved, which removes some governance uncertainty but is unlikely to be a major stock catalyst. Shopify Announces Results of its 2026 Annual Meeting of Shareholders
• Neutral Sentiment: One market commentary put a hold rating on Shopify and suggested limited downside from current levels, reflecting that the stock is still viewed as fairly valued by some observers rather than deeply mispriced. Wall Street Has 38 Buy Ratings on Shopify and One Sell. But We Disagree.
• Negative Sentiment: A shareholder proposal on an AI policy was rejected at the annual meeting, and some coverage has framed this as an ongoing governance issue, though it appears to be a secondary factor versus the buyback and growth narrative. Shopify board fighting shareholder push to create AI policy

Shopify Price Performance

Shares of NASDAQ SHOP opened at $113.23 on Wednesday. The stock has a market capitalization of $146.93 billion, a P/E ratio of 112.11, a P/E/G ratio of 3.15 and a beta of 2.60. The company has a 50-day moving average price of $113.77 and a 200-day moving average price of $130.80. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Shopify 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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