Kercheville Advisors LLC Sells 1,400 Shares of Shopify Inc. (NYSE:SHOP)

Kercheville Advisors LLC trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,855 shares of the software maker’s stock after selling 1,400 shares during the period. Kercheville Advisors LLC’s holdings in Shopify were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vision Capital Management Inc. bought a new position in shares of Shopify in the fourth quarter valued at $213,000. Trilogy Capital Inc. bought a new position in shares of Shopify in the fourth quarter valued at $216,000. Tyche Wealth Partners LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $243,000. Choreo LLC raised its holdings in shares of Shopify by 25.5% in the fourth quarter. Choreo LLC now owns 33,770 shares of the software maker’s stock valued at $3,599,000 after purchasing an additional 6,868 shares during the last quarter. Finally, Weaver Capital Management LLC raised its holdings in shares of Shopify by 6.0% in the fourth quarter. Weaver Capital Management LLC now owns 53,185 shares of the software maker’s stock valued at $5,655,000 after purchasing an additional 2,999 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. KeyCorp increased their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Barclays increased their target price on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group increased their target price on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and increased their target price for the company from $115.00 to $125.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has assigned 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 target price of $100.32.

Shopify Price Performance

SHOP stock opened at $121.89 on Thursday. The firm has a 50 day moving average of $110.57 and a 200-day moving average of $89.73. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $122.00. The firm has a market capitalization of $157.49 billion, a P/E ratio of 113.91, a price-to-earnings-growth ratio of 2.46 and a beta of 2.47.

Shopify Company 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.