Canandaigua National Bank & Trust Co. Invests $733,000 in Shopify Inc. $SHOP

Canandaigua National Bank & Trust Co. bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 6,416 shares of the software maker’s stock, valued at approximately $733,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHOP. Vanguard Group Inc. increased its position in shares of Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after acquiring an additional 743,803 shares in the last quarter. Norges Bank purchased a new stake in shares of Shopify during the fourth quarter valued at approximately $2,611,797,000. Invesco Ltd. raised its stake in shares of Shopify by 9.8% during the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after purchasing an additional 1,252,074 shares during the period. Geode Capital Management LLC raised its position in Shopify by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after acquiring an additional 737,892 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Shopify by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after purchasing an additional 827,643 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported second-quarter revenue of $3.58 billion, up 33.7% year over year, and adjusted EPS of $0.42, exceeding the roughly $0.40 consensus estimate. Profitability and operating income also beat expectations. Shopify Profit Jumps as Subscriptions, Merchant Services Boost Revenues
• Positive Sentiment: The company forecast third-quarter revenue of approximately $3.7 billion to $3.8 billion, implying low-30% growth and topping the $3.6 billion analyst estimate. The outlook was a major catalyst for the stock’s move higher. Shopify expects Q3 revenue growth in the low 30s as it expands agentic commerce infrastructure
• Positive Sentiment: Growth was broad-based: gross merchandise volume, revenue, gross profit and free cash flow each grew more than 30%, while free-cash-flow margin reached 18%. Subscription solutions and merchant services both contributed to the performance. Shopify Delivers Big: 30%+ Growth Across GMV, Revenue, Gross Profit and Free Cash Flow
• Positive Sentiment: AI appears to be complementing rather than replacing Shopify’s platform. AI-referred traffic and orders reportedly tripled year over year, with tools such as ChatGPT and Gemini directing more shoppers to merchants. Shopify is expanding “agentic commerce” infrastructure to capture this trend. Shopify executive discusses AI and entrepreneurship
• Neutral Sentiment: Shopify’s valuation remains demanding after the rally, with a reported price-to-earnings ratio above 140, leaving the stock sensitive to any slowdown in growth or disappointment in future guidance.
• Negative Sentiment: CEO and governance-related comments, including support for a voting plan that could give wealthy taxpayers additional voting power, may create reputational or governance concerns, although they were not the primary driver of the trading session. Shopify CEO backs voting plan

Shopify Stock Performance

SHOP opened at $144.24 on Thursday. The stock has a market capitalization of $187.17 billion, a PE ratio of 142.81, a price-to-earnings-growth ratio of 2.66 and a beta of 2.58. The stock’s 50 day moving average price is $117.98 and its 200-day moving average price is $119.65. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.58 billion during the quarter. During the same quarter last year, the company posted $0.69 earnings per share. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. Research analysts forecast that Shopify Inc. will post 1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SHOP shares. Truist Financial set a $180.00 price objective on shares of Shopify in a report on Wednesday. Morgan Stanley lowered Shopify from an “overweight” rating to a “buy” rating in a research note on Monday, July 13th. BTIG Research began coverage on shares of Shopify in a report on Friday, July 10th. They issued a “buy” rating on the stock. Zacks Research raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Finally, Rothschild & Co Redburn set a $130.00 price objective on Shopify and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.03.

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.