Banco Santander S.A. Trims Stock Holdings in Shopify Inc. $SHOP

Banco Santander S.A. lowered its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 76.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,474 shares of the software maker’s stock after selling 4,749 shares during the quarter. Banco Santander S.A.’s holdings in Shopify were worth $219,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Shopify in the 2nd quarter valued at about $1,794,952,000. Jennison Associates LLC raised its position in Shopify by 64.3% during the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after acquiring an additional 7,403,821 shares in the last quarter. Brown Advisory Inc. raised its position in Shopify by 5,193.6% during the second quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock valued at $238,419,000 after acquiring an additional 2,027,839 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Shopify by 19.9% in the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock valued at $1,247,007,000 after acquiring an additional 1,781,530 shares during the period. Finally, Picton Mahoney Asset Management boosted its position in Shopify by 246,359.0% in the 2nd quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker’s stock worth $202,146,000 after purchasing an additional 1,759,003 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 4.1%

SHOP opened at $120.73 on Monday. The company has a market cap of $157.17 billion, a PE ratio of 129.82, a price-to-earnings-growth ratio of 4.40 and a beta of 2.83. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company has a 50-day moving average price of $141.56 and a 200 day moving average price of $149.63.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Large buyback and AI roadmap — Shopify announced a US$2 billion share buyback and introduced agentic storefronts plus the Universal Commerce Protocol, signaling aggressive capital return and a push to embed AI into merchants’ stacks, which can support revenue and margin expansion over time. Shopify Buyback And AI Push Test Valuation And Growth Expectations
• Positive Sentiment: GMV growth and AI integration — Portfolio commentary and independent coverage point to reaccelerating GMV coupled with deeper AI integration, reinforcing the case that product-led improvements are translating into merchant activity and payment/fulfillment revenue. Shopify (SHOP) GMV Growth Reaccelerates as AI Integration Strengthens Investment Case
• Neutral Sentiment: Industry AI tooling evolution — Third‑party AI imaging and product-fidelity advances (Rewarx Studio) highlight broader e‑commerce tooling improvements that benefit platforms like Shopify indirectly; helpful for merchant UX but not an immediate revenue catalyst. How Rewarx Studio AI is Solving the Fidelity Crisis in AI Product Photography: A Data-Driven Leap Across Global E-commerce Brands
• Neutral Sentiment: Investor interest and coverage — Multiple retail analyst/coverage pieces (Zacks, Seeking Alpha comparisons) are driving attention and search volume; these increase liquidity and volatility but offer mixed buy/sell signals. Is Trending Stock Shopify Inc. (SHOP) a Buy Now?
• Negative Sentiment: Analyst price-target cut and valuation pressure — Jefferies lowered its price target (from $160 to $125), citing softer software-sector multiples and valuation risk; with SHOP trading well above its 52‑week low and still a high P/E, this weighs on near-term sentiment. Shopify Inc’s (SHOP) Target Price Lowered Amid Lower Software Valuation Concerns
• Negative Sentiment: Profit-taking after recent run and technicals — The stock’s drop comes amid a recent run-up, lower intraday volume versus average, and price sitting below its 50- and 200-day moving averages, which can trigger momentum-driven selling. Why Shopify (SHOP) Stock Is Up Today

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho raised shares of Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Thursday, February 12th. Robert W. Baird set a $160.00 price target on shares of Shopify in a research report on Thursday, February 12th. BNP Paribas Exane began coverage on shares of Shopify in a report on Monday, November 24th. They issued a “neutral” rating for the company. Wolfe Research upgraded shares of Shopify from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $180.00 target price on shares of Shopify in a research report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.64.

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.