Sumitomo Mitsui Trust Group Inc. Buys 145,500 Shares of Shopify Inc. $SHOP

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its Shopify stake by 4.1% in the first quarter, buying 145,500 additional shares and bringing its total holding to 3,678,602 shares worth about $436.4 million.
• Shopify continues to attract heavy institutional interest, with large investors like Vanguard, Norges Bank, and others holding significant positions; hedge funds and institutions now own 69.27% of the company.
• Analysts remain broadly positive on Shopify despite some recent price-target cuts, with a consensus rating of Moderate Buy and an average target price of $156.06, while investors also await the company's August 5 second-quarter earnings report.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,678,602 shares of the software maker's stock after purchasing an additional 145,500 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.28% of Shopify worth $436,356,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 743,803 shares during the period. Norges Bank bought a new position in shares of Shopify in the fourth quarter worth $2,611,797,000. Invesco Ltd. grew its position in shares of Shopify by 9.8% in 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 grew its position in shares of Shopify by 6.2% in 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 grew its position in shares of Shopify by 9.1% in 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 purchasing an additional 827,643 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Price Performance

Shares of SHOP opened at $119.22 on Thursday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The company has a market capitalization of $154.71 billion, a P/E ratio of 118.04, a P/E/G ratio of 2.53 and a beta of 2.58. The firm's 50 day simple moving average is $111.07 and its 200 day simple moving average is $125.59.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SHOP shares. Wells Fargo & Company dropped their price objective on Shopify from $166.00 to $144.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a "hold" rating and set a $140.00 target price (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Weiss Ratings cut Shopify from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. BMO Capital Markets decreased their price target on Shopify from $160.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 6th. Finally, Barclays set a $126.00 price target on shares of Shopify and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Two 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $156.06.

Shopify News Roundup

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Bank of America reinstated coverage on Shopify with a Buy rating and a $150 price target, saying the company could benefit from AI-driven “agentic commerce,” international expansion, and enterprise adoption. Shopify reinstated at Bank of America with ‘Buy’ rating on agentic commerce growth outlook
• Positive Sentiment: Analysts continue to view Shopify favorably overall, with multiple recent price targets clustered around $150, reinforcing expectations for upside if execution stays strong. Shopify Slides as Investors Weigh Governance Change and a Rich Valuation Ahead of Earnings
• Neutral Sentiment: Shopify announced it will report second-quarter 2026 results before the market opens on August 5, which is keeping investors focused on upcoming earnings and near-term execution. Shopify to Announce Second-Quarter 2026 Financial Results
• Neutral Sentiment: Recent commentary also highlighted Shopify as a software stock to watch in 2026, noting that sentiment has stabilized after a difficult stretch, but the recovery remains tentative. Shopify (SHOP) Among the Best Software Stocks to Buy in 2026
• Negative Sentiment: Despite the bullish analyst notes, shares have been weaker recently as investors weigh Shopify’s rich valuation, a governance change involving the audit committee chair, and caution ahead of earnings. Shopify Slides as Investors Weigh Governance Change and a Rich Valuation Ahead of Earnings
• Negative Sentiment: A separate market recap said Shopify fell more than the broader market, suggesting traders are taking profits or rotating away from high-multiple growth names. Shopify (SHOP) Declines More Than Market: Some Information for Investors

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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