Calamos Wealth Management LLC Acquires 8,265 Shares of Shopify Inc. (NYSE:SHOP)

Calamos Wealth Management LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 67.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,517 shares of the software maker’s stock after acquiring an additional 8,265 shares during the period. Calamos Wealth Management LLC’s holdings in Shopify were worth $2,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SHOP. Baillie Gifford & Co. boosted its position in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. FMR LLC grew its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. The Manufacturers Life Insurance Company grew its position in Shopify by 6.3% during the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares during the period. National Bank of Canada FI grew its stake in Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Shopify by 9.6% in the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after buying an additional 471,280 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Shopify in a research note on Wednesday, January 22nd. Scotiabank raised their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $115.00 to $125.00 in a report on Monday, January 6th. Piper Sandler upped their price target on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

Shopify Trading Down 2.1 %

Shares of Shopify stock opened at $114.38 on Tuesday. The company has a market cap of $147.79 billion, a price-to-earnings ratio of 106.90, a PEG ratio of 2.46 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $122.00. The company’s fifty day simple moving average is $110.36 and its 200-day simple moving average is $88.97. 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 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.