Independent Financial Group LLC Takes $1.50 Million Position in Shopify Inc. $SHOP

Posted by George Bondi on Jul 20th, 2026

Independent Financial Group LLC purchased a new stake in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) during the 1st quarter, Holdings Channel reports. The fund purchased 12,659 shares of the software maker’s stock, valued at approximately $1,502,000.

Other institutional investors have also added to or reduced their stakes in the company. Prosperity Consulting Group LLC increased its holdings in shares of Shopify by 2.5% during the first quarter. Prosperity Consulting Group LLC now owns 6,974 shares of the software maker’s stock worth $827,000 after buying an additional 171 shares in the last quarter. Gallagher Capital Advisors LLC grew its position in Shopify by 41.3% during the 1st quarter. Gallagher Capital Advisors LLC now owns 2,095 shares of the software maker’s stock worth $249,000 after acquiring an additional 612 shares during the last quarter. Wealthfront Advisers LLC grew its position in Shopify by 18.0% during the 1st quarter. Wealthfront Advisers LLC now owns 30,397 shares of the software maker’s stock worth $3,606,000 after acquiring an additional 4,638 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Shopify by 6.9% in the 1st quarter. D.A. Davidson & CO. now owns 188,072 shares of the software maker’s stock worth $22,309,000 after purchasing an additional 12,183 shares in the last quarter. Finally, Midwest Professional Planners LTD. raised its position in Shopify by 3.3% in the first quarter. Midwest Professional Planners LTD. now owns 14,588 shares of the software maker’s stock valued at $1,730,000 after purchasing an additional 461 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP opened at $123.56 on Monday. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a market capitalization of $160.34 billion, a price-to-earnings ratio of 122.34, a price-to-earnings-growth ratio of 2.68 and a beta of 2.58. The business has a 50-day moving average of $112.47 and a 200-day moving average of $123.35.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets began coverage on Shopify in a research note on Friday, July 10th. They set a “market perform” rating on the stock. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a report on Monday, July 13th. Bank of America began coverage on shares of Shopify in a research report on Tuesday, July 7th. They set a “buy” rating and a $150.00 target price on the stock. Stifel Nicolaus set a $150.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Citizens Jmp decreased their price target on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $157.58.

Check Out Our Latest Stock Analysis on SHOP

Shopify Profile

(Free Report)

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.