TIAA Trust National Association Sells 46,808 Shares of Shopify Inc. $SHOP

TIAA Trust National Association trimmed its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 54.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,540 shares of the software maker’s stock after selling 46,808 shares during the period. TIAA Trust National Association’s holdings in Shopify were worth $6,365,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 buying an additional 743,803 shares in the last quarter. Norges Bank acquired a new position in Shopify during the 4th quarter valued at about $2,611,797,000. Geode Capital Management LLC increased its position in 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 buying an additional 737,892 shares in the last quarter. TD Asset Management Inc increased its position in Shopify by 2.2% during the 4th quarter. TD Asset Management Inc now owns 8,713,762 shares of the software maker’s stock valued at $1,404,790,000 after buying an additional 185,252 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Shopify by 3.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker’s stock valued at $978,679,000 after buying an additional 213,315 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP stock opened at $110.42 on Wednesday. The stock’s 50-day simple moving average is $114.43 and its 200-day simple moving average is $132.29. The firm has a market capitalization of $143.29 billion, a PE ratio of 109.33, a P/E/G ratio of 3.11 and a beta of 2.60. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion for 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%. Sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SHOP shares. Evercore set a $135.00 target price on Shopify in a research report on Wednesday, February 11th. National Bank Financial reduced their target price on Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. TD Securities raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Thursday, February 12th. BMO Capital Markets reduced their target price 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, Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Two research 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, the stock has an average rating of “Moderate Buy” and an average 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 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.