Shopify Inc.
At today's price, Shopify Inc. (SHOP) is priced for today's economics sustained for ~36.2 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Shopify is the commerce operating system for a large merchant base, monetizing each sale through payments and merchant services, with Q1 2026 GMV topping $100 billion for the first time and revenue up 34.3% as operating income nearly doubled. • The defining risk is durability: the price requires elevated growth to persist for decades, while management guided next-quarter growth to the high-20s and flagged AI infrastructure costs and a lower-margin Merchant Solutions mix as margin headwinds. •
Is SHOP overvalued? See what's priced in →
1,679 institutional managers reported holding SHOP in 13F filings for the quarter ended 2026-03-31. Together they hold about 61% of the company; the top 10 hold 24%. 140 opened new positions that quarter. Held by Vanguard Group, FMR (Fidelity), Capital Group (American Funds), among others. On the short side, 21.1M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (2.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
No open-market insider buys on file at SHOP over the trailing three years. Absence is a fact about the company, not a signal.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SHOP's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2025-08-07 | +18.9% | +8.5% |
| 2025-11-05 | -5.4% | +2.4% |
| 2026-02-12 | -13.2% | +14.8% |
| 2026-05-06 | -17.3% | pending |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SHOP's latest 8-K filings: 2026-07-02 (items 5.02, 9.01); 2026-06-16 (items 5.07, 8.01, 9.01); 2026-06-02 (items 7.01, 9.01); 2026-05-08 (items 8.01, 9.01); 2026-05-05 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.