Calamos Wealth Management LLC Grows Holdings in Shopify Inc. (NYSE:SHOP)

Calamos Wealth Management LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 67.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,517 shares of the software maker’s stock after buying an additional 8,265 shares during the quarter. Calamos Wealth Management LLC’s holdings in Shopify were worth $2,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Swiss National Bank grew its stake in shares of Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares during the last quarter. Jennison Associates LLC acquired a new position in Shopify during the fourth quarter worth $132,323,000. Watts Gwilliam & Co. LLC raised its holdings in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 2.1 %

Shares of NYSE:SHOP opened at $114.38 on Tuesday. The stock has a market cap of $147.79 billion, a price-to-earnings ratio of 106.90, a P/E/G ratio of 2.46 and a beta of 2.47. Shopify Inc. has a one year low of $48.56 and a one year high of $122.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a 50 day moving average of $110.36 and a 200-day moving average of $88.97.

Analysts Set New Price Targets

A number of brokerages recently commented on SHOP. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Moffett Nathanson increased their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Canaccord Genuity Group raised their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp upped their target price on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price 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.