Associations of ErbB4 (ERBB4/HER4), the fourth member of the EGFR family, with cancer are variable, possibly as a result of structural diversity of this receptor. There are multiple structural isoforms of ERBB4 arising by alternative mRNA splicing, and a subset undergo proteolysis that releases membrane-anchored and soluble isoforms that associate with transcription factors and co-regulators to modulate transcription. In order to compare the differential and common signaling activities of full-length and soluble intracellular isoforms of ERBB4, four JM-a isoforms (full-length and soluble intracellular domain CYT-1 and CYT-2) were expressed in isogenic MCF10A cells and their biological activities were analyzed. Both full-length and intracellular domain CYT-2 promoted cell proliferation and invasion, and CYT-1 suppressed cell growth. Transcriptional profiling revealed several new and underexplored ERBB4 regulated transcripts including: proteases/protease inhibitors (MMP3, SERPINE2), YAP/Hippo pathway (CTGF, CYR61, SPARC), mevalonate/cholesterol pathway (HMGCR, HMGCS1, LDLR, DHCR7), and cytokines (IL8, CCL20, CXCL1). Many of these transcripts were subsequently validated in a luminal, breast cancer cell line that normally express ERBB4. Furthermore, ChiP-seq experiments identified ADAP1, APOE, SPARC, STMN1, and MXD1 as novel molecular targets of ERBB4. These findings clarify the diverse biological activities of ERBB4 isoforms, and reveal new and divergent functions.