TTRF Capital Ltd Buys Shares of 34,804 Shopify Inc. $SHOP

Key Points

• TTRF Capital Ltd. purchased 34,804 Shopify shares worth approximately $3.97 million during the second quarter, making Shopify its seventh-largest holding and representing 2.6% of its portfolio.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 69.27% of Shopify’s outstanding stock; major investors including Vanguard, Invesco and Geode increased their positions.
• Shopify’s outlook is supported by growing AI-driven commerce activity and expectations for high-20% revenue growth ahead of its Q2 report. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $157.69.

TTRF Capital Ltd purchased a new stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 34,804 shares of the software maker's stock, valued at approximately $3,974,000. Shopify accounts for 2.6% of TTRF Capital Ltd's holdings, making the stock its 7th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased 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 worth $8,158,643,000 after acquiring an additional 743,803 shares during the period. Norges Bank bought a new position in Shopify in the 4th quarter valued at $2,611,797,000. Invesco Ltd. grew its position in shares of Shopify by 9.8% during the 4th 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% during the 4th 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 increased its holdings 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 worth $1,627,352,000 after purchasing an additional 827,643 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reportedly saw a 13-fold increase in orders referred by AI tools, with AI becoming a faster-growing source of traffic and sales than traditional search. The trend supports Shopify’s strategy of becoming an AI-enabled commerce platform. Shopify Sees 13-Fold AI Order Surge
• Positive Sentiment: Analysts are increasingly constructive ahead of the Q2 report. Expectations call for high-20% revenue growth, supported by gross merchandise volume, payments and AI-related opportunities, while analyst upgrades are reportedly accumulating. Pre-Q2 Earnings: Is Shopify Stock a Portfolio Must-Have? Shopify Q2 Earnings Preview
• Positive Sentiment: Market coverage is framing AI as an accelerator of Shopify’s existing commerce ecosystem rather than a threat, potentially strengthening the long-term growth narrative. Shopify: AI Will Accelerate That Evolution
• Positive Sentiment: Shopify partners and developers continue expanding the platform’s reach: Marmeto was promoted to Shopify Plus Platinum status, while Minty launched a new Shopify app designed to improve the path from product discovery to purchase. Marmeto Shopify Plus Partnership Minty Launches Shopify App
• Neutral Sentiment: Shopify is scheduled to report Q2 results imminently. Investors are watching AI integration, revenue growth, gross merchandise volume, payments, margins and guidance. Shopify Q2 Earnings Watch
• Negative Sentiment: Shopify CEO Tobias Lütke’s reported comments about voting eligibility for people who do not pay income tax could create reputational or political controversy, although the issue does not directly affect operating results. Shopify CEO Voting Comments

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $123.30 on Wednesday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The firm has a fifty day moving average of $117.23 and a 200 day moving average of $119.74. The firm has a market capitalization of $160.00 billion, a PE ratio of 122.08, a price-to-earnings-growth ratio of 2.52 and a beta of 2.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus set a $150.00 price objective on Shopify and gave the stock a "buy" rating in a research report on Thursday, July 9th. Rothschild & Co Redburn set a $130.00 target price on Shopify and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. BTIG Research started coverage on Shopify in a research note on Friday, July 10th. They issued a "buy" rating on the stock. Canaccord Genuity Group lowered their price target on Shopify from $165.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, Morgan Stanley downgraded Shopify from an "overweight" rating to a "buy" rating in a research report on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $157.69.

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.

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