M&T Bank Corp Acquires 21,945 Shares of Shopify Inc. $SHOP

Key Points

• M&T Bank increased its stake in Shopify by 37.1%, buying 21,945 shares to hold 81,082 shares worth about $13.05 million at the end of the quarter.
• Analysts are broadly positive—three Strong Buy, 31 Buy and 10 Hold ratings—giving Shopify a consensus "Moderate Buy" and an average price target near $164.19 (about 27% above recent levels), though some warn margin pressure from Shop Pay and AI investments could weigh on results.
• Shopify recently opened around $127.55, has a market cap of roughly $166.3 billion and a high valuation (P/E ~137.15) with a 52‑week range of $88.14–$182.19, indicating elevated volatility and expectations.

M&T Bank Corp boosted its holdings in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 37.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,082 shares of the software maker's stock after purchasing an additional 21,945 shares during the period. M&T Bank Corp's holdings in Shopify were worth $13,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SHOP. Brighton Jones LLC raised its stake in shares of Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock valued at $2,252,000 after acquiring an additional 584 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker's stock valued at $1,392,000 after buying an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker's stock worth $945,000 after purchasing an additional 506 shares during the period. Osterweis Capital Management Inc. purchased a new stake in Shopify in the second quarter worth about $53,000. Finally, Main Street Financial Solutions LLC grew its holdings in Shopify by 15.3% in the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker's stock worth $1,284,000 after purchasing an additional 1,479 shares during the period. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets upgraded shares of Shopify from a "sector perform" rating to an "outperform" rating in a report on Tuesday, February 10th. Mizuho upgraded shares of Shopify from a "neutral" rating to an "outperform" rating and set a $150.00 price target on the stock in a research report on Thursday, February 12th. Barclays set a $130.00 price target on shares of Shopify and gave the stock an "equal weight" rating in a research report on Thursday, February 12th. Benchmark decreased their price objective on shares of Shopify from $195.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Finally, Evercore set a $135.00 price objective on shares of Shopify in a research report on Wednesday, February 11th. 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $164.19.

Shopify News Roundup

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Several Wall Street analysts see meaningful upside (average price target near $159.70, ~27% above recent levels), arguing the pullback creates a buying opportunity. Analysts See 27% Upside for Shopify After 30% Selloff
• Positive Sentiment: Benzinga flags that Benzinga’s "most accurate" analysts continue to rate SHOP highly ahead of the Q1 print and expect EPS around $0.33, which supports investor optimism into the report. Shopify Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
• Neutral Sentiment: Zacks highlights that Shopify is still expected to deliver low-30% revenue growth, driven by Shop Pay adoption and AI product momentum — positives for growth, but the piece flags potential investor uncertainty ahead of results. Shopify Stock Before Q1 Earnings: Smart Buy or Risky Move?
• Neutral Sentiment: Media coverage notes investor attention on Shopify’s AI initiatives and wholesale/merchant tools ahead of the quarter — these are strategic positives but may not move near-term earnings without clear margin proof. Shopify set for Q1 results as AI initiatives draw attention
• Negative Sentiment: Analysts and coverage also warn margin pressure from Shop Pay, AI investments and other initiatives could offset revenue growth, while the recent ~30% selloff signals investor skepticism and raises the bar for a strong beat. Analysts See 27% Upside for Shopify After 30% Selloff

Shopify Stock Performance

SHOP opened at $127.55 on Tuesday. The stock has a market capitalization of $166.34 billion, a price-to-earnings ratio of 137.15, a PEG ratio of 4.54 and a beta of 2.64. The company has a fifty day moving average of $122.49 and a 200 day moving average of $141.99. Shopify Inc. has a fifty-two week low of $88.14 and a fifty-two week high of $182.19.

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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