TIAA Trust National Association Reduces Stock Position in Shopify Inc. $SHOP

Key Points

• TIAA Trust National Association cut its Shopify stake by 54.2% in the fourth quarter, selling 46,808 shares and leaving it with 39,540 shares worth about $6.37 million.
• Despite that sale, institutional ownership remains high: hedge funds and other institutional investors hold about 69.27% of Shopify’s stock, and several large firms recently added to their positions.
• Analysts remain broadly positive on Shopify, with a Moderate Buy consensus and an average price target of $157.17, even though the stock has faced valuation concerns and was trading around $110.42.

TIAA Trust National Association lowered its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 54.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,540 shares of the software maker's stock after selling 46,808 shares during the quarter. TIAA Trust National Association's holdings in Shopify were worth $6,365,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SHOP. Norges Bank purchased a new position in Shopify during the 4th quarter valued at $2,611,797,000. Thrivent Financial for Lutherans boosted its holdings in Shopify by 7,207.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker's stock valued at $184,883,000 after acquiring an additional 1,132,545 shares during the period. Select Equity Group L.P. boosted its holdings in Shopify by 92.5% during the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker's stock valued at $259,124,000 after acquiring an additional 1,079,494 shares during the period. Steadfast Capital Management LP purchased a new position in Shopify during the 3rd quarter valued at $140,930,000. Finally, Vanguard Group Inc. boosted 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. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen upgraded Shopify from a "hold" rating to a "buy" rating and set a $159.00 target price for the company in a report on Wednesday, February 11th. UBS Group reiterated a "neutral" rating on shares of Shopify in a report on Thursday, May 28th. Truist Financial set a $150.00 target price on Shopify and gave the stock a "buy" rating in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $175.00 target price on shares of Shopify in a report on Thursday, February 12th. Finally, Wells Fargo & Company lowered their target price on Shopify from $166.00 to $144.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Shopify has a consensus rating of "Moderate Buy" and an average price target of $157.17.

Shopify Trading Down 0.3%

SHOP opened at $110.42 on Wednesday. The firm has a market cap of $143.29 billion, a price-to-earnings ratio of 109.33, a PEG ratio of 3.11 and a beta of 2.60. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a fifty day moving average price of $114.43 and a 200-day moving average price of $132.29.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. On average, equities research analysts forecast that Shopify Inc. will post 1.36 EPS for the current year.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify continues to show solid operating execution, with analysts highlighting strength in AI-driven traffic, payments, enterprise adoption, and overall revenue growth. Its Q1 2026 GMV reportedly topped $100.7 billion again, reinforcing that merchant activity remains healthy. Shopify's GMV Tops $100B Again: What Investors Should Know
• Positive Sentiment: Analysts and market commentary remain constructive on Shopify’s long-term growth story, with some articles arguing the stock may still have room to run if management keeps delivering on execution and e-commerce expansion. Can Shopify's Strong Execution Outweigh Valuation Concerns in H2 2026?
• Neutral Sentiment: Shopify remains a widely followed growth stock, and recent commentary from market strategists and analyst roundups has kept attention on the company’s fundamentals rather than any new company-specific setback. Shopify (SHOP) Fell With Software Sell Off
• Neutral Sentiment: Short-interest data showed no meaningful change in the reported figures, suggesting no clear new bearish catalyst from positioning.
• Negative Sentiment: The main headwind is valuation: Shopify trades at a premium forward sales multiple, leaving little room for disappointment if growth or margins slow. That concern, along with a broader software selloff, has weighed on the stock. Can Shopify's Strong Execution Outweigh Valuation Concerns in H2 2026?

About Shopify

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.

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP.

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.