Carnegie Investment Counsel Grows Stock Position in Shopify Inc. $SHOP

Carnegie Investment Counsel boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 16.4% during the first quarter, Holdings Channel reports. The institutional investor owned 135,824 shares of the software maker’s stock after buying an additional 19,162 shares during the period. Carnegie Investment Counsel’s holdings in Shopify were worth $16,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kingdom Financial Group LLC. acquired a new position in shares of Shopify in the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new position in Shopify in the fourth quarter valued at $27,000. Evolution Wealth Management Inc. grew its position in Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after acquiring an additional 155 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shopify in the 4th quarter worth about $29,000. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Shopify in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SHOP. BTIG Research began coverage on shares of Shopify in a research note on Friday. They set a “buy” rating for the company. Zacks Research upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Canaccord Genuity Group decreased their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Piper Sandler reissued an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Finally, National Bank Financial decreased their price target on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.03.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Bank of America said Shopify is a major AI winner, reinforcing the view that the company could benefit as merchants adopt AI tools to improve sales, marketing, and checkout performance. Bank of America argues Shopify is a major AI winner
• Positive Sentiment: Zacks upgraded Shopify from hold to strong-buy, and other research notes highlighted earnings growth and price strength, adding to bullish sentiment around the stock. Earnings Growth & Price Strength Make Shopify (SHOP) a Stock to Watch
• Neutral Sentiment: Shopify is also showing up on trending-stock lists and analyst-call roundups, suggesting elevated investor attention, but these items are more about visibility than a direct business catalyst. Shopify Inc. (SHOP) Is a Trending Stock
• Neutral Sentiment: Investors are also watching for Shopify’s Q2 2026 results on August 5, which could become a bigger driver once earnings are closer. This Week In E-Commerce – Shopify’s Q2 2026 Financial Results Announcement Insights
• Negative Sentiment: Shopify remains a richly valued stock, with several recent articles questioning whether the current price is hard to justify, which may limit upside and keep volatility high. Shopify: Great Company, Impossible Valuation
• Negative Sentiment: There was also recent weakness in the broader tech market, and Shopify had already declined in a prior session, showing that macro pressure and high valuation can still weigh on the shares. HubSpot, Q2 Holdings, and Shopify Shares Plummet, What You Need To Know

Shopify Stock Performance

Shares of NASDAQ SHOP traded down $0.63 during midday trading on Friday, hitting $122.54. The company’s stock had a trading volume of 5,472,989 shares, compared to its average volume of 7,931,916. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The firm’s fifty day moving average price is $111.12 and its 200-day moving average price is $125.24. The firm has a market cap of $159.01 billion, a P/E ratio of 121.33, a P/E/G ratio of 2.66 and a beta of 2.58.

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.