Shopify Inc. $SHOP Stake Lowered by Ashe Capital Management LP

Key Points

• Ashe Capital Management LP cut its Shopify stake by 19.9% in the fourth quarter, selling 435,472 shares and leaving it with 1,750,240 shares. Shopify remains Ashe’s largest holding, accounting for 27.3% of its portfolio.
• Institutional ownership of Shopify remains high at 69.27%, with major investors like Vanguard, Norges Bank, Geode Capital Management, and Sands Capital all adding to or initiating positions during the quarter.
• Shopify has also seen supportive news on the business side, including shareholder approval of board nominees and executive pay, along with backing for its current AI strategy and a newly authorized $5 billion share buyback.

Ashe Capital Management LP reduced its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,750,240 shares of the software maker's stock after selling 435,472 shares during the quarter. Shopify accounts for 27.3% of Ashe Capital Management LP's portfolio, making the stock its biggest holding. Ashe Capital Management LP owned about 0.13% of Shopify worth $281,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.5% during the fourth 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 in the last quarter. Norges Bank bought a new position in shares of Shopify during the fourth quarter valued at $2,611,797,000. Geode Capital Management LLC lifted its holdings 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. Sands Capital Management LLC lifted its holdings in shares of Shopify by 37.0% during the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker's stock valued at $1,530,187,000 after purchasing an additional 2,568,765 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Shopify by 2.2% during the fourth quarter. TD Asset Management Inc now owns 8,713,762 shares of the software maker's stock valued at $1,404,790,000 after purchasing an additional 185,252 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify shareholders approved all director nominees and reappointed PricewaterhouseCoopers as auditor at the 2026 annual meeting, while also backing executive compensation and rejecting a proposed AI policy, which supports management’s current AI strategy. Article title
• Positive Sentiment: Shopify’s $5 billion buyback authorization remains a bullish signal for investors because it gives the company flexibility to repurchase shares and support per-share value. Article title
• Positive Sentiment: Bloomreach launched a new Sidekick extension for its Loomi for Shopify app, adding instant search-ranking visibility for merchants and reinforcing Shopify’s expanding AI/app ecosystem. Article title
• Positive Sentiment: Loox launched Reviewers.com, a product-sampling platform built exclusively for Shopify brands, highlighting continued third-party product development around the Shopify merchant base. Article title
• Neutral Sentiment: Shopify announced the results of its 2026 annual meeting, but the filing itself does not indicate a major new catalyst for the stock beyond the governance outcome. Article title
• Negative Sentiment: Despite supportive strategic news, Shopify has still been trading lower, suggesting investors may be taking profits or focusing on valuation after a strong run. Article title

Shopify Stock Performance

SHOP stock opened at $108.09 on Thursday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The business's 50-day moving average is $113.56 and its two-hundred day moving average is $130.44. The company has a market cap of $140.26 billion, a price-to-earnings ratio of 107.02, a P/E/G ratio of 3.17 and a beta of 2.60.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. BMO Capital Markets lowered 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. Phillip Securities raised Shopify from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Piper Sandler reissued an "overweight" rating and issued a $150.00 target price (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Citigroup lowered their target price on Shopify from $163.00 to $156.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, UBS Group reissued a "neutral" rating on shares of Shopify in a report on Thursday, May 28th. Two equities 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. According to data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and an average target price of $157.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.