Calamos Wealth Management LLC Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Calamos Wealth Management LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 67.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,517 shares of the software maker’s stock after acquiring an additional 8,265 shares during the quarter. Calamos Wealth Management LLC’s holdings in Shopify were worth $2,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blodgett Wealth Advisors LLC purchased a new position in shares of Shopify in the 4th quarter worth about $247,000. Baltimore Washington Financial Advisors Inc. raised its holdings in Shopify by 2.3% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 84,541 shares of the software maker’s stock worth $8,989,000 after purchasing an additional 1,900 shares in the last quarter. Jennison Associates LLC purchased a new stake in Shopify in the fourth quarter worth $132,323,000. Fiduciary Planning LLC purchased a new position in Shopify during the fourth quarter valued at $630,000. Finally, KPP Advisory Services LLC purchased a new stake in shares of Shopify during the fourth quarter valued at $226,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

SHOP stock opened at $114.38 on Tuesday. The stock’s 50 day moving average is $110.36 and its two-hundred day moving average is $88.97. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $122.00. The company has a market capitalization of $147.79 billion, a PE ratio of 106.90, a P/E/G ratio of 2.46 and a beta of 2.47.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial boosted their price target on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Scotiabank increased their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Robert W. Baird increased their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Mizuho raised their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $100.32.

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.