TD Asset Management Inc Raises Position in Shopify Inc. $SHOP

TD Asset Management Inc grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,528,510 shares of the software maker’s stock after buying an additional 118,836 shares during the quarter. Shopify accounts for 1.0% of TD Asset Management Inc’s portfolio, making the stock its 18th largest position. TD Asset Management Inc owned about 0.66% of Shopify worth $1,267,327,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new stake in Shopify during the 2nd quarter valued at $27,000. Rothschild Investment LLC lifted its holdings in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Heartwood Wealth Advisors LLC purchased a new stake in shares of Shopify during the third quarter valued at $27,000. Estabrook Capital Management bought a new stake in Shopify in the 2nd quarter worth about $29,000. Finally, Access Investment Management LLC purchased a new position in Shopify in the 2nd quarter worth about $31,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Goldman/analyst recognition: Goldman Sachs has Shopify on its list of top growth picks and Truist upgraded SHOP to Buy with a higher price target, signaling renewed institutional confidence that could support buying interest. Is Shopify Inc. (SHOP) is One of Goldman Sachs’s Top Growth Stock Picks? InsiderMonkey coverage
• Positive Sentiment: New ad channels via AI assistants: Reporting says Shopify is placing ads on behalf of merchants inside ChatGPT — this could open a high-margin distribution/ads revenue stream and broaden merchant reach if monetized effectively. Shopify Shows Ads on Behalf of Its Merchants in ChatGPT
• Positive Sentiment: AI commerce push: Coverage highlights Shopify’s deeper AI commerce initiatives (Catalog, Google-backed protocols) which could drive long-term GMV and new product monetization opportunities if adoption continues. Can Shopify’s AI Commerce Strategy Drive the Next Leg of Growth? Zacks analysis
• Positive Sentiment: Ecosystem strength: TxtCart (an AI SMS marketing platform built for Shopify) reported strong growth and $100M+ in SMS-attributed merchant revenue — a signal that third-party apps on Shopify continue to scale and contribute to merchant monetization. TxtCart Accelerates Growth
• Neutral Sentiment: Market commentary on valuation and buy-opportunity: Several outlets frame the recent pullback as a potential buying opportunity and revisit whether SHOP’s valuation is justified given volatility; useful for investors reassessing risk/reward but not immediate fundamentals. Shopify stock is tumbling: Is this a chance to buy? Valuation piece
• Negative Sentiment: Earnings/technical weakness: Reports note Shopify posted strong revenue but missed EPS expectations and the stock is trading below key moving averages — an immediate drag that explains short-term selling pressure and raises near-term downside risk if guidance is cautious. What’s Going On With Shopify Stock Monday?

Shopify Price Performance

Shares of Shopify stock opened at $116.93 on Wednesday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The company’s fifty day simple moving average is $144.18 and its 200-day simple moving average is $150.19. The stock has a market capitalization of $152.22 billion, a PE ratio of 125.73, a P/E/G ratio of 4.27 and a beta of 2.83.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SHOP shares. Royal Bank Of Canada set a $170.00 price target on shares of Shopify and gave the company an “outperform” rating in a report on Thursday, February 12th. Wolfe Research raised shares of Shopify from a “hold” rating to an “outperform” rating in a report on Tuesday, January 6th. Evercore set a $135.00 target price on shares of Shopify in a report on Wednesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating and set a $126.00 target price (down from $181.00) on shares of Shopify in a research note on Thursday, February 12th. Finally, UBS Group lowered their price target on Shopify from $165.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.64.

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.