Shopify Ownership

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

Recent Insider Transactions

NasdaqGS:SHOP Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
14 May 25	SellUS$1,144,868	Jessica Hertz	Individual	10,255	US$111.64
13 Feb 25	SellUS$6,326,155	Toby Shannan	Individual	50,000	US$126.52
12 Feb 25	SellUS$6,040,485	Kasra Nejatian	Individual	50,000	US$120.81
12 Dec 24	SellUS$583,939	Jessica Hertz	Individual	4,963	US$117.66
14 Nov 24	SellUS$3,437,019	Kasra Nejatian	Individual	31,250	US$109.98
14 Nov 24	SellUS$218,440	Colleen Johnston	Individual	2,000	US$109.22
13 Nov 24	SellUS$954,278	Harley Finkelstein	Individual	8,877	US$107.50
13 Nov 24	SellUS$3,353,946	Kasra Nejatian	Individual	31,250	US$108.69
13 Nov 24	SellUS$1,671,300	Toby Shannan	Individual	15,000	US$111.42
08 Aug 24	SellUS$3,137,413	Kasra Nejatian	Individual	48,387	US$64.84
06 Jun 24	SellUS$61	Toby Shannan	Individual	1	US$61.28
28 May 24	SellUS$43,557	Jessica Hertz	Individual	768	US$56.71

Insider Trading Volume

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

Ownership Breakdown

What is the ownership structure of SHOP?
Owner Type	Number of Shares	Ownership Percentage
State or Government	741,888	0.0572%
Individual Insiders	81,085,843	6.25%
General Public	348,715,442	26.9%
Institutions	866,837,698	66.8%

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

Top Shareholders

Top 25 shareholders own 46.99% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
8.68%	Capital Research and Management Company	112,562,849	US$12.5b	-2.23%	0.58%
6.13%	Tobias Lütke	79,550,132	US$8.8b	0%	no data
4.31%	Baillie Gifford & Co.	55,877,748	US$6.2b	-6.52%	2.74%
3.71%	FMR LLC	48,108,525	US$5.3b	12.2%	0.31%
3.7%	The Vanguard Group, Inc.	47,962,280	US$5.3b	1.87%	0.08%
2.62%	T. Rowe Price Group, Inc.	34,008,966	US$3.8b	-18.8%	0.34%
1.72%	Morgan Stanley Investment Management Inc.	22,274,583	US$2.5b	-0.8%	1.8%
1.61%	JP Morgan Asset Management	20,870,839	US$2.3b	25.4%	0.24%
1.31%	Fidelity International Ltd	16,956,004	US$1.9b	7.49%	0.75%
1.24%	Arrowstreet Capital, Limited Partnership	16,131,927	US$1.8b	-2.16%	1.33%
1.18%	Polen Capital Management, LLC	15,273,053	US$1.7b	-10.6%	5.04%
1.12%	Norges Bank Investment Management	14,504,856	US$1.6b	0%	0.12%
1.11%	Loomis Sayles & Company, L.P.	14,430,963	US$1.6b	-1.24%	2.07%
0.94%	Sands Capital Management, LLC	12,145,821	US$1.3b	-11.9%	3.45%
0.83%	BMO Asset Management Corp.	10,766,774	US$1.2b	-4.77%	0.47%
0.82%	RBC Global Asset Management Inc.	10,702,403	US$1.2b	-1.83%	0.71%
0.71%	National Bank Investments Inc.	9,180,345	US$1.0b	5.5%	1.07%
0.69%	Geode Capital Management, LLC	8,950,265	US$991.2m	27.6%	0.06%
0.69%	Franklin Resources, Inc.	8,946,847	US$990.9m	-3.77%	0.33%
0.68%	TD Asset Management, Inc.	8,809,783	US$975.7m	-2.59%	0.7%
0.67%	Edgewood Management LLC	8,649,619	US$957.9m	0%	3.02%
0.67%	Mackenzie Financial Corporation	8,648,734	US$957.8m	19.8%	1.01%
0.65%	Wellington Management Group LLP	8,481,481	US$939.3m	64.5%	0.16%
0.62%	Canadian Imperial Bank of Commerce, Asset Management Arm	8,028,489	US$889.2m	-1.42%	1.91%
0.6%	Artisan Partners Limited Partnership	7,802,205	US$864.1m	6.41%	0.48%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/18 07:28
End of Day Share Price	2025/05/16 00:00
Earnings	2025/03/31
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 82 analysts. 47 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
Richard Kramer	Arete Research Services LLP
Rocco Strauss	Arete Research Services LLP