TIAA Trust National Association Reduces Stock Position in Shopify Inc. $SHOP

TIAA Trust National Association lowered its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 54.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,540 shares of the software maker’s stock after selling 46,808 shares during the quarter. TIAA Trust National Association’s holdings in Shopify were worth $6,365,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SHOP. Norges Bank purchased a new position in Shopify during the 4th quarter valued at $2,611,797,000. Thrivent Financial for Lutherans boosted its holdings in Shopify by 7,207.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after acquiring an additional 1,132,545 shares during the period. Select Equity Group L.P. boosted its holdings in Shopify by 92.5% during the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock valued at $259,124,000 after acquiring an additional 1,079,494 shares during the period. Steadfast Capital Management LP purchased a new position in Shopify during the 3rd quarter valued at $140,930,000. Finally, Vanguard Group Inc. boosted 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 valued at $8,158,643,000 after acquiring an additional 743,803 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen upgraded Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a report on Wednesday, February 11th. UBS Group reiterated a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Truist Financial set a $150.00 target price on Shopify and gave the stock a “buy” rating in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $175.00 target price on shares of Shopify in a report on Thursday, February 12th. Finally, Wells Fargo & Company lowered their target price on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Trading Down 0.3%

SHOP opened at $110.42 on Wednesday. The firm has a market cap of $143.29 billion, a price-to-earnings ratio of 109.33, a PEG ratio of 3.11 and a beta of 2.60. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a fifty day moving average price of $114.43 and a 200-day moving average price of $132.29.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion during 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%. On average, equities research analysts forecast that Shopify Inc. will post 1.36 EPS for the current year.

Trending Headlines about Shopify

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?

About Shopify

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.