Bedel Financial Consulting Inc. Has $368,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Bedel Financial Consulting Inc. lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 17.7% during the 4th quarter, HoldingsChannel reports. The firm owned 3,463 shares of the software maker’s stock after selling 744 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Shopify were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Howland Capital Management LLC raised its holdings in shares of Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after buying an additional 99 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after buying an additional 100 shares during the last quarter. First United Bank & Trust raised its holdings in shares of Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its position in Shopify by 3.3% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SHOP shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a research note on Friday, December 6th. KeyCorp upped their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. ATB Capital upped their price target on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Down 5.1 %

NYSE:SHOP opened at $106.25 on Tuesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The business has a 50 day moving average price of $112.82 and a two-hundred day moving average price of $97.34. The company has a market cap of $137.57 billion, a P/E ratio of 68.55, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.