Readystate Asset Management LP Takes $14.28 Million Position in Shopify Inc. $SHOP

Readystate Asset Management LP acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the first quarter, HoldingsChannel reports. The firm acquired 120,412 shares of the software maker’s stock, valued at approximately $14,283,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after buying an additional 743,803 shares in the last quarter. Norges Bank purchased a new position in shares of Shopify during the fourth quarter valued at approximately $2,611,797,000. Invesco Ltd. boosted its position in Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after acquiring an additional 1,252,074 shares during the last quarter. Geode Capital Management LLC boosted its position in Shopify by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after acquiring an additional 737,892 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Shopify by 9.1% in the 4th quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock worth $1,627,352,000 after acquiring an additional 827,643 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SHOP. Barclays set a $126.00 price target on Shopify and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Citigroup dropped their target price on Shopify from $156.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Bank of America began coverage on Shopify in a research report on Tuesday, July 7th. They set a “buy” rating and a $150.00 target price on the stock. Morgan Stanley lowered Shopify from an “overweight” rating to a “buy” rating in a research note on Monday, July 13th. Finally, National Bank Financial set a $155.00 price target on Shopify and gave the company an “outperform” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.69.

Shopify Trading Up 2.7%

Shares of Shopify stock opened at $130.28 on Wednesday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The stock has a market capitalization of $169.06 billion, a P/E ratio of 128.99, a PEG ratio of 2.74 and a beta of 2.58. The business’s fifty day moving average price is $115.46 and its 200 day moving average price is $121.27.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Anticipation of strong Q2 growth: Investors are reportedly expecting revenue growth in the high-twenties percentage range, helping drive buying ahead of earnings. The company’s subscription revenue recently grew 21%, supported by Shopify Plus adoption, enterprise customers and new AI tools. Shopify Jumps on Q2 Revenue Growth Hopes
• Positive Sentiment: Confidence in Shopify’s competitive position: RBC argued that Shopify has strong defenses against AI-driven software disruption, while other commentary characterized the company as an early leader in agentic commerce. These views reinforce the potential for AI to expand Shopify’s merchant tools rather than weaken its business model. RBC on Shopify’s AI Defensibility
• Positive Sentiment: Expanded merchant distribution: DoorDash’s native Shopify integration lets eligible U.S. brick-and-mortar merchants synchronize catalogs and inventory and begin selling through DoorDash more easily. The partnership could increase Shopify’s ecosystem value and merchant engagement, although the near-term financial effect is uncertain. DoorDash Shopify Integration
• Neutral Sentiment: Partner ecosystem development: Indian e-commerce agency Marmeto became a Shopify Platinum Partner, signaling continued expansion of Shopify’s implementation and services network but likely having limited direct impact on near-term results. Marmeto Becomes Shopify Platinum Partner
• Negative Sentiment: Governance and reputational concerns: CEO Tobi Lütke faced criticism over apparent support for giving wealthy individuals greater voting power, including claims that the ultra-rich should receive multiple votes. The controversy could create reputational risk, though it has not yet altered Shopify’s operating outlook. Shopify CEO Voting Rights Criticism

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.