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
30 Mar 26	Sell€190,105	Jeff Hoffmeister	Individual	1,950	€97.49
10 Mar 26	Sell€136,535	Jean Niehaus	Individual	1,230	€111.00
09 Mar 26	Sell€47,930	Toby Shannan	Individual	428	€111.99
09 Mar 26	Sell€544,926	Harley Finkelstein	Individual	4,866	€111.99
09 Mar 26	Sell€645,266	Jessica Hertz	Individual	5,762	€111.99
04 Mar 26	Sell€75,113	Jean Niehaus	Individual	682	€110.14
02 Mar 26	Sell€175,553	Harley Finkelstein	Individual	1,722	€101.95
02 Mar 26	Sell€255,581	Jessica Hertz	Individual	2,507	€101.95
02 Mar 26	Sell€200,631	Jeff Hoffmeister	Individual	1,968	€101.95
02 Mar 26	Sell€42,104	Jean Niehaus	Individual	413	€101.95
11 Dec 25	Sell€2,511,562	Toby Shannan	Individual	18,000	€139.53
11 Dec 25	Sell€5,717,884	Jessica Hertz	Individual	41,122	€139.05
05 Nov 25	Sell€145,434	Jean Niehaus	Individual	1,008	€144.28
09 Sep 25	Sell€601,342	Harley Finkelstein	Individual	4,873	€123.40
07 Aug 25	Sell€10,630,165	Kasra Nejatian	Individual	80,645	€131.81
28 Jul 25	Sell€39,016	Jessica Hertz	Individual	355	€109.90
30 Jun 25	Sell€189,255	Jeff Hoffmeister	Individual	1,923	€98.42
14 May 25	Sell€1,022,024	Jessica Hertz	Individual	10,255	€99.66

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	863,216	0.0662%
Individual Insiders	79,917,100	6.13%
General Public	372,792,512	28.6%
Institutions	850,538,546	65.2%

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

Top Shareholders

Top 25 shareholders own 42.82% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
6.9%	Capital Research and Management Company	89,923,181	€9.0b	-13.2%	0.45%
6.09%	Tobias Lutke	79,442,132	€8.0b	-0.14%	no data
3.89%	The Vanguard Group, Inc.	50,670,627	€5.1b	1.49%	0.07%
3.58%	FMR LLC	46,697,681	€4.7b	3.53%	0.28%
2.39%	Baillie Gifford & Co.	31,206,232	€3.1b	-12%	1.96%
1.84%	JP Morgan Asset Management	24,052,245	€2.4b	-4.83%	0.26%
1.8%	T. Rowe Price Group, Inc.	23,531,422	€2.4b	-11%	0.24%
1.45%	Jennison Associates LLC	18,966,407	€1.9b	0.23%	1.38%
1.41%	Fidelity International Ltd	18,385,371	€1.8b	-4.12%	0.77%
1.24%	Norges Bank Investment Management	16,224,694	€1.6b	4.27%	0.13%
1.23%	Morgan Stanley Investment Management Inc.	16,045,166	€1.6b	-17.7%	1.7%
1.11%	Loomis Sayles & Company, L.P.	14,470,169	€1.5b	-2.3%	2.22%
0.97%	Geode Capital Management, LLC	12,601,476	€1.3b	6.22%	0.08%
0.93%	BMO Asset Management Corp.	12,124,197	€1.2b	-11.2%	0.47%
0.86%	RBC Global Asset Management Inc.	11,193,633	€1.1b	-4.61%	0.65%
0.77%	BlackRock, Inc.	10,025,088	€1.0b	14.8%	0.02%
0.76%	The Goldman Sachs Group, Inc.	9,968,161	€1.0b	42.6%	0.44%
0.76%	Mackenzie Financial Corporation	9,961,097	€999.5m	9.06%	1.09%
0.73%	Sands Capital Management, LLC	9,506,036	€953.9m	37%	3.28%
0.72%	National Bank Investments Inc.	9,417,620	€945.0m	-4.35%	1.11%
0.72%	JPMorgan Chase & Co.	9,349,968	€938.2m	7.87%	0.17%
0.67%	Canada Pension Plan Investment Board	8,763,307	€879.3m	62.8%	0.49%
0.67%	Canadian Imperial Bank of Commerce	8,731,927	€876.2m	18.2%	1.71%
0.67%	TD Asset Management, Inc.	8,713,762	€874.4m	2.17%	0.66%
0.65%	Franklin Resources, Inc.	8,511,734	€854.1m	5.72%	0.3%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/04/08 15:14
End of Day Share Price	2026/04/08 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

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 78 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
Rocco Strauss	Arete Research Services LLP
Oliver Lester	Arete Research Services LLP