Kercheville Advisors LLC Has $822,000 Position in Shopify Inc. (NYSE:SHOP)

Kercheville Advisors LLC cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,255 shares of the software maker’s stock after selling 230 shares during the period. Kercheville Advisors LLC’s holdings in Shopify were worth $822,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management increased its stake in Shopify by 3.5% in the first quarter. Brookstone Capital Management now owns 7,646 shares of the software maker’s stock valued at $590,000 after acquiring an additional 260 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Shopify by 5.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,340 shares of the software maker’s stock valued at $335,000 after buying an additional 219 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in Shopify by 10.1% in the first quarter. Miracle Mile Advisors LLC now owns 3,444 shares of the software maker’s stock valued at $266,000 after buying an additional 316 shares in the last quarter. CAP Partners LLC raised its stake in Shopify by 4.0% during the first quarter. CAP Partners LLC now owns 16,538 shares of the software maker’s stock worth $1,276,000 after acquiring an additional 636 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its holdings in shares of Shopify by 6.6% in the first quarter. SeaCrest Wealth Management LLC now owns 6,195 shares of the software maker’s stock worth $478,000 after acquiring an additional 382 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $82.00 in a report on Tuesday, July 16th. Truist Financial lowered their target price on Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Morgan Stanley lifted their price target on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $80.21.

Shopify Stock Performance

NYSE SHOP opened at $79.05 on Monday. The company has a market cap of $102.01 billion, a P/E ratio of 80.66, a PEG ratio of 2.65 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a fifty day simple moving average of $77.13 and a 200 day simple moving average of $69.04.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. Sell-side analysts predict that Shopify Inc. will post 0.76 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.