Shopify Inc. $SHOP Stock Position Lowered by Congress Asset Management Co.

by · The Cerbat Gem

Congress Asset Management Co. trimmed its holdings in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 730,843 shares of the software maker’s stock after selling 33,758 shares during the period. Congress Asset Management Co.’s holdings in Shopify were worth $108,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Sands Capital Management LLC raised its position in Shopify by 37.0% during the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after acquiring an additional 2,568,765 shares during the last quarter. Invesco Ltd. grew its position in shares of Shopify by 9.8% in the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Shopify during the 1st quarter worth approximately $119,303,000. Swiss National Bank increased its stake in shares of Shopify by 27.0% during the 1st quarter. Swiss National Bank now owns 4,115,300 shares of the software maker’s stock worth $487,580,000 after purchasing an additional 876,100 shares in the last quarter. Finally, Castle Hook Partners LP raised its position in shares of Shopify by 60.8% during the 4th quarter. Castle Hook Partners LP now owns 1,979,636 shares of the software maker’s stock worth $318,662,000 after purchasing an additional 748,152 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

  • Positive Sentiment: JPMorgan raised its price target to $200 and maintained an “overweight” rating, signaling confidence in Shopify’s growth prospects and implying substantial upside from recent trading levels. Shopify Price Target Raised to $200
  • Positive Sentiment: Investors highlighted Shopify’s above-average financial growth. The company reported approximately $3.6 billion in second-quarter revenue, up about 33.7% year over year, reinforcing the growth-stock narrative. 3 Reasons Growth Investors Will Love Shopify
  • Positive Sentiment: Cooling labor-market data reduced expectations for an October Federal Reserve rate increase. Lower-for-longer interest-rate expectations can support high-growth technology stocks by improving the outlook for future earnings valuations. Why Shopify Stock Is Trading Up Today
  • Positive Sentiment: Shopify’s recent rally has pushed the stock above a notable technical resistance level and near its highest level since January, reflecting strong momentum and renewed investor interest. Shopify Stock Has Crossed a Crucial Resistance
  • Neutral Sentiment: Shopify will release third-quarter 2026 results before markets open on November 3, followed by an 8:30 a.m. ET conference call. The announcement gives investors a near-term catalyst, but no preliminary results or guidance were provided. Shopify to Announce Third-Quarter 2026 Results
  • Negative Sentiment: Valuation remains a risk after the rally: Shopify trades at a high earnings multiple, while some published analyst targets remain below the current market level. Any slowdown in growth or disappointing third-quarter guidance could therefore trigger volatility.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Shopify from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald raised their price target on Shopify from $127.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating and issued a $175.00 price target on shares of Shopify in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on Shopify from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Evercore reaffirmed an “outperform” rating and set a $175.00 price objective (up from $135.00) on shares of Shopify in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.39.

Check Out Our Latest Analysis on SHOP

Shopify Trading Up 2.7%

Shares of Shopify stock traded up $4.33 during trading hours on Tuesday, reaching $164.44. The stock had a trading volume of 9,777,036 shares, compared to its average volume of 10,421,250. The firm has a market capitalization of $211.58 billion, a price-to-earnings ratio of 111.11, a P/E/G ratio of 3.13 and a beta of 2.62. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $142.04 and a two-hundred day simple moving average of $124.95.

Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last issued its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $3.58 billion during the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, equities research analysts anticipate that Shopify Inc. will post 1.46 earnings per share for the current year.

About Shopify

(Free Report)

Shopify Inc is a commerce technology company that provides tools for businesses to start, operate and grow online and in physical retail environments. Its platform enables merchants to create and manage online stores, sell through multiple channels, process orders and payments, manage inventory and engage with customers.

Shopify’s products and services include its core commerce platform, Shopify Plus for larger businesses, Shopify Payments, Shop Pay, point-of-sale solutions and tools for marketing, shipping, analytics and customer management.

Recommended Stories

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP).