Grove Bank & Trust Has $3.41 Million Holdings in Shopify Inc. $SHOP

Grove Bank & Trust decreased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,150 shares of the software maker’s stock after selling 4,350 shares during the period. Grove Bank & Trust’s holdings in Shopify were worth $3,405,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Genesis Private Wealth LLC purchased a new position in Shopify during the fourth quarter valued at approximately $292,000. Wedmont Private Capital boosted its stake in shares of Shopify by 18.4% during the 4th quarter. Wedmont Private Capital now owns 3,054 shares of the software maker’s stock valued at $509,000 after buying an additional 475 shares during the period. Maridea Wealth Management LLC grew its holdings in shares of Shopify by 7.6% during the 4th quarter. Maridea Wealth Management LLC now owns 1,835 shares of the software maker’s stock valued at $295,000 after acquiring an additional 130 shares in the last quarter. Occidental Asset Management LLC increased its stake in shares of Shopify by 18.3% in the fourth quarter. Occidental Asset Management LLC now owns 3,773 shares of the software maker’s stock worth $607,000 after acquiring an additional 584 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC increased its stake in shares of Shopify by 25.9% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 9,605 shares of the software maker’s stock worth $1,546,000 after acquiring an additional 1,975 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $116.78 on Friday. The stock’s 50 day simple moving average is $129.57 and its 200 day simple moving average is $148.07. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company has a market capitalization of $152.29 billion, a price-to-earnings ratio of 125.57, a PEG ratio of 4.14 and a beta of 2.83.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Deepened Klaviyo integration should help Shopify win more enterprise customers and speed international expansion via Locale Aware Catalogs — a tangible product tie-up that supports merchant adoption and recurring revenue. Klaviyo integration
• Positive Sentiment: Analyst and commentary pieces highlight Shopify momentum from AI features and enterprise wins, which are the likely fundamental drivers that could re-accelerate growth if macro pressure eases. DoorDash vs Shopify
• Neutral Sentiment: Options commentary notes potential trading strategies (call spreads) offering asymmetric returns even if SHOP is flat or down — these are investor/derivative flows to watch but not direct company fundamentals. Options strategy
• Neutral Sentiment: Local agency ecosystem activity (Stellar Projects’ new AI playbook) underscores ongoing third‑party investment in Shopify’s platform in Europe — positive for long-term merchant adoption but limited near-term share impact. Stellar Projects
• Negative Sentiment: Shopify is a meaningful holding in Cathie Wood’s ARKK; heavy weightings in volatile tech names and recent ARKK outflows have amplified SHOP’s downside as investors rotate to defensive sectors. ARKK pressure
• Negative Sentiment: Broader tech weakness and comparisons with competitors (DoorDash, others) leave room for multiple headwinds: macro risk, competition on commerce/fulfillment, and high valuation multiples that make SHOP more sensitive in selloffs. Competitive & macro risks

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SHOP shares. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Bank of America lifted their price target on Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Wells Fargo & Company set a $191.00 price target on Shopify and gave the company an “overweight” rating in a research note on Thursday, February 12th. Finally, Scotiabank upgraded Shopify from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $200.00 in a report on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $163.38.

About Shopify

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.