Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Shopify Inc. $SHOP

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,678,602 shares of the software maker’s stock after purchasing an additional 145,500 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Shopify were worth $436,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingdom Financial Group LLC. purchased a new position in shares of Shopify during the 4th quarter valued at about $26,000. Curio Wealth LLC purchased a new stake in Shopify in the fourth quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shopify in the fourth quarter worth approximately $29,000. Lloyd Advisory Services LLC. bought a new position in Shopify during the fourth quarter valued at approximately $31,000. Finally, Lodestone Wealth Management LLC bought a new position in Shopify during the fourth quarter valued at approximately $31,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Down 2.2%

NASDAQ:SHOP opened at $119.22 on Thursday. The company has a 50-day moving average price of $111.07 and a 200-day moving average price of $125.59. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a market cap of $154.71 billion, a price-to-earnings ratio of 118.04, a P/E/G ratio of 2.53 and a beta of 2.58.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Bank of America reinstated coverage on Shopify with a Buy rating and a $150 price target, saying the company could benefit from AI-driven “agentic commerce,” international expansion, and enterprise adoption. Shopify reinstated at Bank of America with ‘Buy’ rating on agentic commerce growth outlook
• Positive Sentiment: Analysts continue to view Shopify favorably overall, with multiple recent price targets clustered around $150, reinforcing expectations for upside if execution stays strong. Shopify Slides as Investors Weigh Governance Change and a Rich Valuation Ahead of Earnings
• Neutral Sentiment: Shopify announced it will report second-quarter 2026 results before the market opens on August 5, which is keeping investors focused on upcoming earnings and near-term execution. Shopify to Announce Second-Quarter 2026 Financial Results
• Neutral Sentiment: Recent commentary also highlighted Shopify as a software stock to watch in 2026, noting that sentiment has stabilized after a difficult stretch, but the recovery remains tentative. Shopify (SHOP) Among the Best Software Stocks to Buy in 2026
• Negative Sentiment: Despite the bullish analyst notes, shares have been weaker recently as investors weigh Shopify’s rich valuation, a governance change involving the audit committee chair, and caution ahead of earnings. Shopify Slides as Investors Weigh Governance Change and a Rich Valuation Ahead of Earnings
• Negative Sentiment: A separate market recap said Shopify fell more than the broader market, suggesting traders are taking profits or rotating away from high-multiple growth names. Shopify (SHOP) Declines More Than Market: Some Information for Investors

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SHOP shares. Royal Bank Of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Wells Fargo & Company reduced their target price on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. UBS Group reissued a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. National Bank Financial reduced their price objective on Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Finally, Citigroup reiterated a “market outperform” rating on shares of Shopify in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.06.

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.