TD Asset Management Inc Grows Stock Holdings in Shopify Inc. $SHOP

TD Asset Management Inc increased its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,713,762 shares of the software maker’s stock after buying an additional 185,252 shares during the quarter. Shopify comprises about 1.1% of TD Asset Management Inc’s holdings, making the stock its 17th largest position. TD Asset Management Inc’s holdings in Shopify were worth $1,404,790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Shopify by 16.3% in the 3rd quarter. Principal Financial Group Inc. now owns 450,895 shares of the software maker’s stock valued at $67,006,000 after purchasing an additional 63,300 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Shopify by 65.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 158,514 shares of the software maker’s stock valued at $23,557,000 after purchasing an additional 62,743 shares in the last quarter. M&T Bank Corp boosted its holdings in Shopify by 37.1% in the 4th quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock valued at $13,051,000 after purchasing an additional 21,945 shares in the last quarter. Triasima Portfolio Management inc. boosted its holdings in Shopify by 11.0% in the 4th quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock valued at $29,398,000 after purchasing an additional 18,028 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Shopify by 6.7% in the 4th quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after purchasing an additional 13,415 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 3.5%

SHOP stock opened at $112.94 on Thursday. The firm has a 50 day moving average of $114.73 and a 200-day moving average of $133.18. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The company has a market cap of $146.56 billion, a price-to-earnings ratio of 111.82, a PEG ratio of 3.28 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SHOP. Stifel Nicolaus set a $115.00 price objective on Shopify and gave the company a “hold” rating in a report on Wednesday, February 11th. DA Davidson lowered their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Finally, Benchmark reduced their price target on shares of Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s board approved an additional $3 billion for share repurchases, lifting the total authorization to $5 billion. Buybacks can support the stock by reducing share count and signaling management confidence in the business. Shopify Board Approves Expanding Share Repurchase Program to US$5 Billion
• Positive Sentiment: Analyst and momentum commentary remained favorable, with Zacks highlighting Shopify’s earnings and price momentum and noting continued investor interest in the name. Shopify (SHOP) Boasts Earnings & Price Momentum: Should You Buy?
• Positive Sentiment: Third-party product activity continues to build around Shopify, including a new payment rewards application for merchants and a Shopify Payment Extension added to EMTWerx 2.0, reinforcing ecosystem expansion. RealFi Announces Development of XRP Ledger-Powered Payment Rewards Application for Shopify Merchants
• Neutral Sentiment: Shopify resolved a roughly two-hour outage that affected storefronts and checkouts. While the issue was fixed quickly, it may have reminded investors that platform reliability remains important for merchant confidence. Shopify Resolves 2-Hour Outage Impacting Storefronts and Checkouts
• Negative Sentiment: Some articles pointed to broader volatility and recent profit-taking after a sharp move higher, suggesting investors may be locking in gains rather than chasing the stock immediately. Why Shopify (SHOP) Stock Is Down Today

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.