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

Kercheville Advisors LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,855 shares of the software maker’s stock after selling 1,400 shares during the quarter. Kercheville Advisors LLC’s holdings in Shopify were worth $942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in shares of Shopify in the third quarter worth $33,000. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the fourth quarter worth $39,000. Mather Group LLC. lifted its position in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Shopify during the third quarter valued at $45,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 2.3 %

Shopify stock opened at $121.89 on Thursday. The business has a 50-day simple moving average of $110.57 and a two-hundred day simple moving average of $89.73. The company has a market cap of $157.49 billion, a P/E ratio of 113.91, a P/E/G ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $122.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

Several equities analysts have commented on the company. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Mizuho raised their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. JMP Securities reissued a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Finally, Oppenheimer lifted their price target on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.32.

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.