Thrivent Financial for Lutherans Acquires 1,132,545 Shares of Shopify Inc. $SHOP

Thrivent Financial for Lutherans grew its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7,207.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,148,259 shares of the software maker’s stock after buying an additional 1,132,545 shares during the period. Thrivent Financial for Lutherans’ holdings in Shopify were worth $184,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Shopify by 211.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 85,271 shares of the software maker’s stock valued at $13,793,000 after acquiring an additional 57,906 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Shopify by 266.2% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 3,867 shares of the software maker’s stock valued at $622,000 after acquiring an additional 2,811 shares during the period. Western Wealth Management LLC boosted its position in shares of Shopify by 26.4% in the fourth quarter. Western Wealth Management LLC now owns 3,461 shares of the software maker’s stock valued at $557,000 after acquiring an additional 723 shares during the period. Navalign LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $34,000. Finally, Stonebridge Financial Group LLC MO bought a new position in shares of Shopify in the fourth quarter valued at approximately $708,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SHOP shares. TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $175.00 price objective on shares of Shopify in a research report on Thursday, February 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $126.00 price objective (down from $181.00) on shares of Shopify in a research report on Thursday, February 12th. Evercore set a $135.00 price objective on shares of Shopify in a research report on Wednesday, February 11th. Finally, Citigroup cut their price objective on shares of Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $158.42.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Thrive Capital reportedly invested about $100 million in Shopify, a vote of confidence in the company’s AI strategy and long-term commerce opportunity. Thrive Capital Bets $100 Million on Shopify’s AI Future
• Positive Sentiment: Analysts and commentators highlighted Shopify’s accelerating growth, strong revenue expansion, and AI-driven merchant tools, suggesting the company may still have meaningful upside if execution remains strong. Shopify: Growth Acceleration (Rating Upgrade)
• Positive Sentiment: Management said Q1 demand was supported by rapid adoption of AI products, international growth, and momentum with larger enterprise merchants, reinforcing the bullish case around Shopify’s platform and AI integration. Shopify’s Q1 Earnings Call: Our Top 5 Analyst Questions
• Neutral Sentiment: EZ Texting launched a Shopify App Store integration, adding another marketing tool for merchants, but the announcement appears incremental rather than material on its own. EZ Texting Expands into Shopify App Store
• Neutral Sentiment: Jim Cramer said he does not view Shopify as an “AI displacement victim,” implying some of the selloff may have been overdone, but this is more commentary than a new catalyst. Jim Cramer on Shopify: “I Don’t Believe It’s an Actual AI Displacement Victim”
• Negative Sentiment: Investors remain concerned about Shopify’s valuation and recent share-price weakness, with some articles noting the stock has faced heavy selling pressure despite solid business growth. Wall Street Sees 45% Upside in This Overlooked Tech Stock. Here’s Why It’s Wrong.
• Negative Sentiment: A U.S. court allowed key antitrust claims against Shopify to proceed, keeping regulatory and legal overhangs in focus even though no liability has been determined. Shopify Antitrust Case Moves Forward Keeping Platform Power In Focus

Shopify Price Performance

Shares of Shopify stock opened at $97.42 on Friday. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The firm has a market cap of $126.42 billion, a PE ratio of 96.46, a PEG ratio of 2.67 and a beta of 2.64. The company has a 50 day simple moving average of $119.70 and a two-hundred day simple moving average of $138.67.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. As a group, research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

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.