Munich Reinsurance Co Stock Corp in Munich Lowers Holdings in Shopify Inc. $SHOP

Key Points

• Munich Reinsurance sharply reduced its Shopify position by 97.4% in the first quarter, selling 38,359 shares and leaving it with 1,015 shares worth about $120,000.
• Institutional ownership remains high, with 69.27% of Shopify shares held by institutions; other major investors like Vanguard, Norges Bank, Invesco, and Geode also recently increased or initiated stakes.
• Analyst sentiment is still broadly positive, with several firms reiterating or initiating Buy ratings and an average price target of about $157.03, even as some recent reports noted valuation concerns.

Munich Reinsurance Co Stock Corp in Munich decreased its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 97.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,015 shares of the software maker's stock after selling 38,359 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in Shopify were worth $120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SHOP. Vanguard Group Inc. increased its position in Shopify by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker's stock valued at $8,158,643,000 after purchasing an additional 743,803 shares during the period. Norges Bank purchased a new stake in shares of Shopify in the 4th quarter worth approximately $2,611,797,000. Invesco Ltd. boosted its stake in shares of Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker's stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Shopify by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker's stock valued at $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Shopify by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker's stock valued at $1,627,352,000 after buying an additional 827,643 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. National Bank Financial reduced their price objective on shares of Shopify from $200.00 to $155.00 and set an "outperform" rating for the company in a research note on Wednesday, May 27th. Bank of America started coverage on Shopify in a research report on Tuesday. They set a "buy" rating and a $150.00 target price on the stock. BMO Capital Markets cut their price target on Shopify from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $180.00 price target on shares of Shopify in a research report on Tuesday, May 5th. Finally, Zacks Research upgraded Shopify from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $157.03.

Shopify Trading Up 3.3%

Shares of Shopify stock opened at $123.17 on Friday. The firm's 50 day simple moving average is $111.09 and its two-hundred day simple moving average is $125.26. The firm has a market capitalization of $159.83 billion, a price-to-earnings ratio of 121.95, a PEG ratio of 2.59 and a beta of 2.58. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Zacks Research upgraded Shopify from hold to strong-buy, adding to bullish sentiment around the stock’s growth outlook and valuation support. Zacks upgrade coverage
• Positive Sentiment: Bank of America reinstated Shopify with a Buy rating and a $150 price target, citing potential benefits from AI-driven “agentic commerce,” international expansion, and enterprise adoption. Shopify reinstated at Bank of America with Buy rating
• Positive Sentiment: Several recent articles frame Shopify as a top software/internet name for 2026, with AI-led commerce and platform innovation seen as key growth drivers. Internet stocks with upside potential
• Neutral Sentiment: Shopify announced it will report second-quarter 2026 results on August 5, which keeps attention on upcoming execution but does not yet change fundamentals. Shopify to Announce Second-Quarter 2026 Financial Results
• Neutral Sentiment: Some commentary remains cautious, with articles arguing Shopify’s valuation is still expensive even though the business quality remains strong. Shopify valuation article
• Negative Sentiment: One report highlighted pressure from a governance change after an audit committee chair resigned, and the stock has also been sensitive to broader selloffs in richly valued tech names. Governance and valuation pressure

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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