Pinnbrook Capital Management LP Purchases New Position in Shopify Inc. $SHOP

Pinnbrook Capital Management LP purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,303 shares of the software maker’s stock, valued at approximately $4,503,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.2% during the third quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker’s stock valued at $7,417,517,000 after acquiring an additional 610,129 shares during the period. Jennison Associates LLC grew its holdings in shares of Shopify by 64.3% in the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after purchasing an additional 7,403,821 shares during the last quarter. Norges Bank acquired a new stake in shares of Shopify during the 2nd quarter worth about $1,794,952,000. Loomis Sayles & Co. L P increased its position in shares of Shopify by 1.3% during the 2nd quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after purchasing an additional 191,824 shares in the last quarter. Finally, Edgewood Management LLC lifted its holdings in Shopify by 10.5% during the 2nd quarter. Edgewood Management LLC now owns 9,558,067 shares of the software maker’s stock valued at $1,102,523,000 after purchasing an additional 911,908 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Jefferies raised its price target after OpenAI decided not to enable in?ChatGPT purchases, which Jefferies views as reducing a competitive threat to Shopify’s checkout and payments opportunity. This upgrade supports upside to monetization of AI-driven commerce. Jefferies Raises PT on Shopify (SHOP) Following OpenAI Decision
• Positive Sentiment: Piper Sandler initiated coverage with an “Overweight” rating and a $165 PT (~34% upside from the current level), citing payments and merchant growth as key drivers. Analyst coverage and a constructive PT can attract buyers. Benzinga Coverage Note
• Positive Sentiment: Shopify is embedding AI across commerce—enabling AI assistants to surface merchant catalogs and route transactions through Shopify’s checkout/payments—which could increase GMV capture and revenue per merchant if adoption scales. Shopify Bets Big on AI Commerce: Is it the Next Growth Catalyst?
• Positive Sentiment: Shopify’s Klaviyo integration (Locale Aware Catalogs) strengthens its enterprise and global merchant proposition by automating localized catalogs, pricing and marketing — a product move that targets larger brands and cross?sell opportunities. Shopify And Klaviyo Integration Highlights Global Ambitions And Valuation Tension
• Positive Sentiment: Longer?term bullish narratives: commentary (e.g., Motley Fool) places Shopify among AI winners that could materially expand value over several years, supporting a growth story for patient investors. Prediction: 2 AI Stocks Will Be Worth More Than Palantir Technologies in 5 Years
• Neutral Sentiment: Zacks notes the stock is up ~14% since the last earnings report, signaling recent momentum but asking whether that trend can continue without clearer earnings leverage. Shopify (SHOP) Up 14% Since Last Earnings Report: Can It Continue?
• Negative Sentiment: Zacks also highlights SHOP has declined ~11% over six months, reflecting recent volatility and investor concern about execution/valuation despite AI momentum. SHOP Declines 11% in 6 Months: Buy, Sell or Hold the Stock?
• Negative Sentiment: Service reliability concern — Downdetector reported outages affecting thousands of users; repeated or high?impact outages can dent merchant trust and short?term GMV. Shopify Down for Thousands of Users, Downdetector Reports
• Negative Sentiment: Valuation and technical pressure — SHOP trades below its 50? and 200?day moving averages, has a high trailing P/E (~132) and elevated PEG (~4.65), which increases sensitivity to any slowdown in revenue/monetization.

Shopify Trading Down 2.5%

Shares of NASDAQ SHOP opened at $122.96 on Friday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The company has a market cap of $160.07 billion, a PE ratio of 132.22, a P/E/G ratio of 4.53 and a beta of 2.83. The company has a 50-day moving average of $133.91 and a two-hundred day moving average of $148.61.

Wall Street Analyst Weigh In

A number of research firms have commented on SHOP. Citigroup restated a “buy” rating and issued a $172.00 price target (down from $195.00) on shares of Shopify in a research report on Friday, February 13th. ATB Cormark Capital Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Moffett Nathanson raised Shopify from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Monday, February 9th. Piper Sandler assumed coverage on Shopify in a report on Thursday. They issued an “overweight” rating and a $165.00 target price on the stock. Finally, Wolfe Research upgraded Shopify from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.38.

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.