Shopify Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

DB:307 Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
13 Feb 25	Sell€6,057,293	Toby Shannan	Individual	50,000	€121.15
12 Feb 25	Sell€5,833,296	Kasra Nejatian	Individual	50,000	€116.67
12 Dec 24	Sell€556,728	Jessica Hertz	Individual	4,963	€112.18
14 Nov 24	Sell€3,248,670	Kasra Nejatian	Individual	31,250	€103.96
14 Nov 24	Sell€206,469	Colleen Johnston	Individual	2,000	€103.23
13 Nov 24	Sell€902,365	Harley Finkelstein	Individual	8,877	€101.65
13 Nov 24	Sell€3,171,491	Kasra Nejatian	Individual	31,250	€102.78
13 Nov 24	Sell€1,580,381	Toby Shannan	Individual	15,000	€105.36
08 Aug 24	Sell€2,875,753	Kasra Nejatian	Individual	48,387	€59.43
06 Jun 24	Sell€56	Toby Shannan	Individual	1	€56.32
28 May 24	Sell€40,046	Jessica Hertz	Individual	768	€52.14

Insider Trading Volume

Insider Buying: 307 insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of 307?
Owner Type	Number of Shares	Ownership Percentage
State or Government	736,502	0.0569%
Individual Insiders	81,097,284	6.26%
General Public	362,610,796	28%
Institutions	850,376,153	65.7%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 47.18% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
8.89%	Capital Research and Management Company	115,135,776	€9.9b	-7.47%	0.53%
6.14%	Tobias Lütke	79,550,132	€6.8b	0%	no data
4.62%	Baillie Gifford & Co.	59,776,512	€5.1b	-5.67%	2.65%
3.64%	The Vanguard Group, Inc.	47,080,112	€4.0b	1.69%	0.07%
3.31%	FMR LLC	42,862,281	€3.7b	3.28%	0.25%
3.24%	T. Rowe Price Group, Inc.	41,901,348	€3.6b	-12.3%	0.37%
1.73%	Morgan Stanley Investment Management Inc.	22,453,172	€1.9b	-35%	1.63%
1.32%	Polen Capital Management, LLC	17,082,458	€1.5b	0%	4.61%
1.29%	JP Morgan Asset Management	16,641,122	€1.4b	43.8%	0.18%
1.27%	Arrowstreet Capital, Limited Partnership	16,487,579	€1.4b	79.8%	1.23%
1.22%	Fidelity International Ltd	15,774,148	€1.4b	11.9%	0.61%
1.13%	Loomis Sayles & Company, L.P.	14,612,866	€1.3b	-3.12%	1.87%
1.12%	Norges Bank Investment Management	14,504,856	€1.2b	1.94%	0.11%
1.06%	Sands Capital Management, LLC	13,778,939	€1.2b	-9.18%	3.5%
0.87%	BMO Asset Management Corp.	11,305,521	€971.4m	9.11%	0.42%
0.84%	RBC Global Asset Management Inc.	10,901,743	€936.7m	-0.99%	0.64%
0.72%	Franklin Resources, Inc.	9,297,718	€798.9m	-14.5%	0.31%
0.7%	TD Asset Management, Inc.	9,044,000	€777.1m	0.21%	0.63%
0.67%	National Bank Investments Inc.	8,701,656	€747.7m	17.5%	1.05%
0.63%	Canadian Imperial Bank of Commerce, Asset Management Arm	8,143,882	€699.7m	-3.77%	1.75%
0.57%	Artisan Partners Limited Partnership	7,332,465	€630.0m	-25%	0.55%
0.56%	Mackenzie Financial Corporation	7,222,328	€620.6m	-2.48%	0.69%
0.55%	Manulife Asset Management	7,168,363	€615.9m	-12.7%	0.52%
0.55%	Connor, Clark & Lunn Investment Management Ltd.	7,095,382	€609.6m	30.2%	2.91%
0.54%	Geode Capital Management, LLC	7,015,582	€602.8m	30.2%	0.05%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/02 21:53
End of Day Share Price	2025/04/30 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Shopify Inc. is covered by 79 analysts. 46 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Harshit Gupta	Accountability Research Corporation
Oliver Lester	Arete Research Services LLP
Richard Kramer	Arete Research Services LLP