Shopify Inc. $SHOP Shares Sold by Pinnbrook Capital Management LP

Key Points

• Pinnbrook Capital Management cut its Shopify stake by 41.8% in the fourth quarter, selling 12,669 shares and ending with 17,634 shares valued at about $2.84 million.
• Other hedge funds also adjusted their positions in Shopify, while institutional investors own 69.27% of the company’s stock, showing continued heavy institutional interest.
• Wall Street remains broadly positive on Shopify: analysts currently rate it Moderate Buy on average, with a consensus price target of $158.42, even as the stock recently traded at $104.86.

Pinnbrook Capital Management LP lowered its holdings in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 41.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,634 shares of the software maker's stock after selling 12,669 shares during the period. Pinnbrook Capital Management LP's holdings in Shopify were worth $2,839,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Signature Estate & Investment Advisors LLC lifted its position in shares of Shopify by 6.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 2,560 shares of the software maker's stock valued at $412,000 after acquiring an additional 154 shares during the last quarter. FourThought Financial Partners LLC acquired a new stake in shares of Shopify during the 4th quarter valued at $303,000. Global Retirement Partners LLC lifted its position in shares of Shopify by 11.2% during the 4th quarter. Global Retirement Partners LLC now owns 24,100 shares of the software maker's stock valued at $3,879,000 after acquiring an additional 2,418 shares during the last quarter. MJP Associates Inc. ADV lifted its position in shares of Shopify by 5.2% during the 4th quarter. MJP Associates Inc. ADV now owns 2,654 shares of the software maker's stock valued at $427,000 after acquiring an additional 130 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Shopify during the 4th quarter valued at $2,479,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. Stifel Nicolaus set a $115.00 price objective on Shopify and gave the company a "hold" rating in a research report on Wednesday, February 11th. Moffett Nathanson raised shares of Shopify from a "neutral" rating to a "buy" rating and set a $150.00 target price on the stock in a research note on Monday, February 9th. Citizens Jmp cut their target price on shares of Shopify from $160.00 to $150.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Shopify from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Two 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.42.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $104.86 on Friday. The stock's 50-day moving average is $116.82 and its 200-day moving average is $136.09. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The company has a market cap of $136.07 billion, a P/E ratio of 103.82, a P/E/G ratio of 2.94 and a beta of 2.64.

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

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Investor attention remains on Shopify’s AI strategy after a report highlighted Thrive Capital’s $100 million investment and renewed interest in how Shopify is using artificial intelligence across its commerce platform. The coverage suggests investors are looking for AI-driven upside to support Shopify’s valuation. Thrive Capital’s AI Bet On Shopify (SHOP) Sparks Fresh Look At Valuation
• Positive Sentiment: Shopify’s Q1 earnings call was described as signaling AI-fueled growth, reinforcing the idea that the company may be able to use automation and AI to improve its platform and strengthen its long-term growth story. Shopify Earnings Call Signals AI-Fueled Growth
• Positive Sentiment: Shopify was also recognized by Freshworks as one of the winners in its 2026 Global Customer Awards, which adds to the company’s credibility as a major enterprise customer and may reflect continued use of modern software tools at scale. Loomis Sayles Global Growth Fund Holds Firm on Shopify (SHOP) Beyond AI Narrative
• Neutral Sentiment: Freshworks named Shopify among the winners of its 2026 Global Customer Awards, but the announcement appears more like a customer recognition item than a material business update for investors. Freshworks Announces Winners of the 2026 Global Customer Awards
• Neutral Sentiment: Several articles simply revisit Shopify’s recent earnings results and Q1 performance versus other e-commerce software names, which keeps the stock in focus but does not add a major new catalyst. Q1 Earnings Review: E-commerce Software Stocks Led by Shopify NASDAQ: SHOP
• Neutral Sentiment: Shopify was also mentioned in a lifestyle/brand event hosted with Shapellx, which is supportive of visibility but unlikely to move the stock on its own. Shapellx and Shopify Hosted "Power From Within" Event in SoHo, New York

Shopify Company 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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