Westerkirk Capital Inc. Lowers Stock Position in Shopify Inc. $SHOP

Key Points

• Westerkirk Capital sharply reduced its Shopify stake by 93.5% in the fourth quarter, selling 47,800 shares and leaving it with 3,310 shares worth about $533,000.
• Despite mixed analyst price-target changes, Wall Street remains broadly constructive on Shopify, with a consensus rating of Moderate Buy and an average target price of $157.17.
• Shopify’s recent business trends remain solid, including strong execution and Q1 2026 GMV above $100.7 billion, though the stock continues to face valuation concerns after a broad software selloff.

Westerkirk Capital Inc. cut its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 93.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,310 shares of the software maker's stock after selling 47,800 shares during the period. Westerkirk Capital Inc.'s holdings in Shopify were worth $533,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. acquired a new position in shares of Shopify during the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SHOP. Canaccord Genuity Group reduced their target price on Shopify from $165.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. TD Cowen raised Shopify from a "hold" rating to a "buy" rating and set a $159.00 target price for the company in a research note on Wednesday, February 11th. TD Securities raised Shopify from a "hold" rating to a "buy" rating and set a $159.00 target price for the company in a research note on Thursday, February 12th. National Bank Financial reduced their price objective on Shopify from $200.00 to $155.00 and set an "outperform" rating for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings downgraded Shopify from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, Shopify presently has an average rating of "Moderate Buy" and a consensus target price of $157.17.

Shopify News Summary

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?

Shopify Stock Performance

NASDAQ SHOP opened at $110.42 on Wednesday. The business has a fifty day moving average price of $114.43 and a 200 day moving average price of $132.29. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The company has a market cap of $143.29 billion, a P/E ratio of 109.33, a P/E/G ratio of 3.11 and a beta of 2.60.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. As a group, sell-side analysts predict that Shopify Inc. will post 1.36 EPS for the current fiscal 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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