Kercheville Advisors LLC Acquires 400 Shares of Shopify Inc. (NYSE:SHOP)

Kercheville Advisors LLC boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,255 shares of the software maker’s stock after purchasing an additional 400 shares during the quarter. Kercheville Advisors LLC’s holdings in Shopify were worth $884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SHOP. Capital World Investors increased its position in Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after buying an additional 496,982 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after acquiring an additional 781,162 shares during the last quarter. FMR LLC increased its holdings in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after acquiring an additional 1,426,000 shares in the last quarter. Capital International Investors increased its holdings in shares of Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after acquiring an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on SHOP shares. BMO Capital Markets started coverage on shares of Shopify in a research report on Tuesday, May 6th. They set an “outperform” rating and a $120.00 price objective on the stock. Phillip Securities cut shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Jefferies Financial Group reduced their price target on shares of Shopify from $130.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $91.00 price objective on shares of Shopify in a research report on Wednesday, June 11th. Finally, Loop Capital cut their target price on Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $115.66.

Shopify Stock Up 2.9%

NYSE:SHOP opened at $108.37 on Tuesday. The business’s 50-day simple moving average is $99.26 and its two-hundred day simple moving average is $104.94. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market cap of $140.60 billion, a PE ratio of 69.92, a P/E/G ratio of 4.82 and a beta of 2.63.

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.