Merit Financial Group LLC Purchases 14,427 Shares of Shopify Inc. $SHOP

Key Points

• Merit Financial Group increased its stake in Shopify by 79.0% in Q4, buying an additional 14,427 shares to hold 32,689 shares valued at about $5.26 million.
• Other institutions also boosted exposure—Jennison Associates added ~7.4 million shares, Assenagon surged 1,593% to 677,511 shares—and institutional investors now own 69.27% of Shopify.
• Shopify shares are trading higher (opened at $131.15), carry a high valuation (market cap ~$171.0B, P/E ~141), and Wall Street’s consensus is a “Moderate Buy” with an average target of about $162.70.

Merit Financial Group LLC grew its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 79.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,689 shares of the software maker's stock after acquiring an additional 14,427 shares during the quarter. Merit Financial Group LLC's holdings in Shopify were worth $5,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC boosted its position in shares of Shopify by 64.3% during the third 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 during the last quarter. Select Equity Group L.P. boosted its position in shares of Shopify by 92.5% during the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker's stock valued at $259,124,000 after buying an additional 1,079,494 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Shopify by 21.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,536,825 shares of the software maker's stock valued at $822,828,000 after buying an additional 973,132 shares during the last quarter. Steadfast Capital Management LP purchased a new position in shares of Shopify during the third quarter valued at approximately $140,930,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Shopify by 1,593.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 677,511 shares of the software maker's stock valued at $109,069,000 after buying an additional 637,494 shares during 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: CIBC reiterated an outperform rating and a US$185 price target in a Q1 preview, calling for a strong quarter and upbeat 2026 outlook — a direct analyst endorsement of SHOP’s near-term revenue/profitability trajectory. CIBC Provides Q1 Preview for Shopify; Says Strong Quarter And 2026 Outlook Expected
• Positive Sentiment: News of partner and enterprise traction — including Fyresite’s promotion to Shopify Premier Partner and wins like Avenue Z’s platinum partnership and Reitmans’ brand migrations — supports Shopify’s push upmarket and strengthens its enterprise ecosystem and long-term moat. Fyresite Reaches New Heights With Shopify Premier Partner Promotion
• Positive Sentiment: Media commentary from Jim Cramer argues Shopify is unlikely to be displaced by AI, helping sentiment among growth/software investors worried about AI-driven disruption. Jim Cramer Explains Why Shopify Is Not a Victim of AI Displacement
• Neutral Sentiment: Zacks and related coverage note elevated investor attention around SHOP, providing visibility but not new fundamental developments — useful for flows/volatility monitoring. Shopify Inc. (SHOP) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Unusual options activity suggests a large holder may be rolling covered calls on SHOP — signals of institutional repositioning that can both reduce upside and indicate expectation-setting by big owners. Unusual Options Activity Hints That a Big Fish Is Rolling Covered Calls on Shopify Stock
• Negative Sentiment: Short-case commentary (comparison pieces arguing Shopify could be a short candidate) highlights valuation and multiple risk — a reminder that high multiples and cyclical e-commerce exposure leave the stock vulnerable if execution or macro data disappoint. ServiceNow vs Shopify: Which Is the Better Short Candidate Right Now?

Shopify Trading Up 3.3%

SHOP stock opened at $131.15 on Friday. The stock's fifty day simple moving average is $120.94 and its two-hundred day simple moving average is $144.06. Shopify Inc. has a 1-year low of $80.35 and a 1-year high of $182.19. The stock has a market cap of $171.03 billion, a P/E ratio of 141.02, a P/E/G ratio of 4.53 and a beta of 2.82.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several analyst reports. BMO Capital Markets set a $160.00 target price on Shopify in a research report on Thursday, February 12th. Robert W. Baird set a $160.00 target price on Shopify in a research report on Thursday, February 12th. Evercore set a $135.00 target price on Shopify in a research report on Wednesday, February 11th. Arete Research set a $175.00 target price on Shopify in a research report on Monday, February 2nd. Finally, TD Securities raised Shopify from a "hold" rating to a "buy" rating and set a $159.00 target price on the stock in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $162.70.

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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