TD Waterhouse Canada Inc. Decreases Stock Holdings in Shopify Inc. $SHOP

Key Points

• TD Waterhouse Canada trimmed its stake in Shopify by 15.3% in Q4, selling 93,246 shares and retaining 514,293 shares worth about $82.67 million.
• Wall Street consensus is a Moderate Buy with an average price target of $162.70; analyst targets range widely (examples: Wells Fargo $166, CIBC $185) and ratings include 3 Strong Buy, 31 Buy and 10 Hold.
• Recent headlines show positive partner and enterprise traction and upbeat analyst previews, but market signals — including unusual options activity and short-case commentary — plus a high P/E (141.02) and current quote around $131.15 underscore both momentum and valuation risk.

TD Waterhouse Canada Inc. trimmed its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 514,293 shares of the software maker's stock after selling 93,246 shares during the period. TD Waterhouse Canada Inc.'s holdings in Shopify were worth $82,668,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Lodestone Wealth Management LLC purchased a new position in shares of Shopify during the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC increased its holdings in Shopify by 82.4% during the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker's stock valued at $31,000 after buying an additional 89 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Shopify during the third quarter valued at approximately $32,000. Caitlin John LLC purchased a new stake in Shopify during the third quarter valued at approximately $36,000. Finally, Cornerstone Planning Group LLC increased its holdings in Shopify by 104.9% during the third quarter. Cornerstone Planning Group LLC now owns 250 shares of the software maker's stock valued at $37,000 after buying an additional 128 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SHOP. Wells Fargo & Company reduced their target price on shares of Shopify from $191.00 to $166.00 and set an "overweight" rating for the company in a report on Monday, April 6th. Truist Financial set a $150.00 target price on shares of Shopify and gave the company a "buy" rating in a report on Tuesday, February 17th. Wolfe Research raised shares of Shopify from a "hold" rating to an "outperform" rating in a report on Tuesday, January 6th. Arete Research set a $175.00 target price on shares of Shopify in a report on Monday, February 2nd. Finally, Stifel Nicolaus set a $115.00 target price on shares of Shopify and gave the company a "hold" rating in a report on Wednesday, February 11th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $162.70.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: CIBC reiterated an outperform rating and a US$185 price target in a Q1 preview, calling for a strong quarter and upbeat 2026 outlook — a direct analyst endorsement of SHOP’s near-term revenue/profitability trajectory. CIBC Provides Q1 Preview for Shopify; Says Strong Quarter And 2026 Outlook Expected
• Positive Sentiment: News of partner and enterprise traction — including Fyresite’s promotion to Shopify Premier Partner and wins like Avenue Z’s platinum partnership and Reitmans’ brand migrations — supports Shopify’s push upmarket and strengthens its enterprise ecosystem and long-term moat. Fyresite Reaches New Heights With Shopify Premier Partner Promotion
• Positive Sentiment: Media commentary from Jim Cramer argues Shopify is unlikely to be displaced by AI, helping sentiment among growth/software investors worried about AI-driven disruption. Jim Cramer Explains Why Shopify Is Not a Victim of AI Displacement
• Neutral Sentiment: Zacks and related coverage note elevated investor attention around SHOP, providing visibility but not new fundamental developments — useful for flows/volatility monitoring. Shopify Inc. (SHOP) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Unusual options activity suggests a large holder may be rolling covered calls on SHOP — signals of institutional repositioning that can both reduce upside and indicate expectation-setting by big owners. Unusual Options Activity Hints That a Big Fish Is Rolling Covered Calls on Shopify Stock
• Negative Sentiment: Short-case commentary (comparison pieces arguing Shopify could be a short candidate) highlights valuation and multiple risk — a reminder that high multiples and cyclical e-commerce exposure leave the stock vulnerable if execution or macro data disappoint. ServiceNow vs Shopify: Which Is the Better Short Candidate Right Now?

Shopify Price Performance

SHOP opened at $131.15 on Monday. The firm has a market cap of $171.03 billion, a P/E ratio of 141.02, a PEG ratio of 4.66 and a beta of 2.82. Shopify Inc. has a 1-year low of $80.35 and a 1-year high of $182.19. The company has a 50 day simple moving average of $120.94 and a two-hundred day simple moving average of $144.03.

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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