Calamos Wealth Management LLC Buys 17,927 Shares of Shopify Inc. $SHOP

Calamos Wealth Management LLC lifted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 472.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,720 shares of the software maker’s stock after purchasing an additional 17,927 shares during the quarter. Calamos Wealth Management LLC’s holdings in Shopify were worth $3,228,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Heartwood Wealth Advisors LLC bought a new position in Shopify in the third quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Shopify in the 2nd quarter worth $25,000. Rothschild Investment LLC lifted its holdings in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in Shopify in the 2nd quarter valued at $27,000. Finally, Tradewinds Capital Management LLC increased its stake in Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent research reports. National Bankshares raised their price objective on shares of Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $185.00 price target (up previously from $160.00) on shares of Shopify in a research report on Tuesday, November 4th. Wells Fargo & Company reissued an “overweight” rating and set a $198.00 price objective (up from $125.00) on shares of Shopify in a report on Wednesday, December 17th. TD Cowen reissued a “hold” rating and issued a $156.00 price objective on shares of Shopify in a research note on Friday, October 3rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $181.00 target price (up previously from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. Twenty-two research analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Hold” and an average target price of $168.69.

Shopify Stock Down 2.5%

SHOP stock opened at $163.74 on Wednesday. The firm has a market cap of $213.16 billion, a PE ratio of 121.29, a P/E/G ratio of 6.23 and a beta of 2.82. The business has a 50 day moving average of $161.40 and a 200-day moving average of $145.03. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. On average, research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.