Bedel Financial Consulting Inc. Decreases Stock Position in Shopify Inc. (NYSE:SHOP)

Bedel Financial Consulting Inc. cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,463 shares of the software maker’s stock after selling 744 shares during the period. Bedel Financial Consulting Inc.’s holdings in Shopify were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SHOP. US Bancorp DE raised its holdings in Shopify by 4.3% in the third quarter. US Bancorp DE now owns 66,992 shares of the software maker’s stock valued at $5,369,000 after acquiring an additional 2,776 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Shopify by 1.9% during the third quarter. Farther Finance Advisors LLC now owns 17,147 shares of the software maker’s stock worth $1,374,000 after acquiring an additional 312 shares during the last quarter. Clear Creek Financial Management LLC grew its position in shares of Shopify by 2.4% during the third quarter. Clear Creek Financial Management LLC now owns 7,215 shares of the software maker’s stock worth $578,000 after acquiring an additional 172 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Shopify by 1.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 210,668 shares of the software maker’s stock worth $16,883,000 after acquiring an additional 3,035 shares during the last quarter. Finally, Roman Butler Fullerton & Co. bought a new position in shares of Shopify during the third quarter worth about $214,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their target price on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Oppenheimer increased their target price on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their target price on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group increased their target price on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

NYSE SHOP opened at $106.25 on Tuesday. The firm has a market capitalization of $137.57 billion, a price-to-earnings ratio of 68.55, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The company has a 50 day simple moving average of $112.82 and a 200-day simple moving average of $97.34. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. On average, analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Shopify Profile

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.