State of Wisconsin Investment Board Invests $70.91 Million in Shopify Inc. $SHOP

Key Points

• The State of Wisconsin Investment Board opened a new position in Shopify during the fourth quarter, buying 439,830 shares worth about $70.9 million.
• Shopify continues to draw strong institutional and analyst support, with 69.27% of shares held by institutions and a consensus analyst rating of “Moderate Buy” with an average price target of $157.17.
• Recent developments around Shopify have been positive, including a US$5 billion share buyback, shareholder approval of management at the annual meeting, and rejection of an AI policy that gives leadership more flexibility on AI initiatives.

State of Wisconsin Investment Board acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 439,830 shares of the software maker's stock, valued at approximately $70,912,000.

Other institutional investors also recently modified their holdings of the company. Kingdom Financial Group LLC. acquired a new position in shares of Shopify during the 4th quarter worth about $26,000. Curio Wealth LLC acquired a new position in shares of Shopify during the 4th quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shopify during the 4th quarter worth about $29,000. Lloyd Advisory Services LLC. acquired a new position in shares of Shopify during the 4th quarter worth approximately $31,000. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $31,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $180.00 target price on shares of Shopify in a report on Tuesday, May 5th. Oppenheimer reissued an "outperform" rating and set a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Wells Fargo & Company decreased their target price on Shopify from $166.00 to $144.00 and set an "overweight" 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. Finally, National Bank Financial decreased their target price on Shopify from $200.00 to $155.00 and set an "outperform" rating on the stock in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and an average price target of $157.17.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify expanded its share repurchase program to US$5 billion, a sign management believes the stock is attractive and a potential tailwind for earnings per share. What Shopify (SHOP)'s US$5 Billion Buyback and AI Commerce Push Means For Shareholders
• Positive Sentiment: At Shopify’s 2026 annual meeting, shareholders elected all director nominees, reappointed PwC as auditor, and approved executive compensation, which signals broad support for current leadership. Shopify (SHOP) Backs Management At 2026 Meeting As Shareholders Reject AI Policy
• Positive Sentiment: Investors rejected a proposed AI policy, effectively giving management more flexibility to continue rolling out AI features such as the Sidekick assistant and AI-powered product discovery. Shopify Announces Results of its 2026 Annual Meeting of Shareholders
• Positive Sentiment: Analyst sentiment remains constructive, with one recent report saying Shopify has an average rating of “Moderate Buy”, reinforcing the bullish tone around the name. Shopify Inc. NASDAQ: SHOP Given Average Rating of "Moderate Buy" by Analysts
• Neutral Sentiment: Several coverage pieces highlighted Shopify’s AI commerce strategy and its role as potential infrastructure for retail, but these were largely commentary rather than new hard financial results. Is Shopify Building the Future Infrastructure for AI Retail?
• Negative Sentiment: One valuation-focused article argued Shopify may be trading near fair value and suggested limited near-term downside protection, which could temper enthusiasm at current levels. Wall Street Has 38 Buy Ratings on Shopify and One Sell. But We Disagree.

Shopify Stock Performance

Shares of SHOP opened at $113.23 on Wednesday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The firm has a market cap of $146.93 billion, a P/E ratio of 112.11, a price-to-earnings-growth ratio of 3.15 and a beta of 2.60. The firm's 50-day simple moving average is $113.77 and its 200 day simple moving average is $130.80.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.08 billion. As a group, equities analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.

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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