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

Calamos Wealth Management LLC increased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 472.6% during the third quarter, HoldingsChannel reports. The firm owned 21,720 shares of the software maker’s stock after acquiring an additional 17,927 shares during the period. Calamos Wealth Management LLC’s holdings in Shopify were worth $3,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of SHOP. Family Legacy Financial Solutions LLC purchased a new stake in Shopify in the second quarter worth $25,000. Financial Gravity Companies Inc. bought a new position in shares of Shopify during the 2nd quarter worth $27,000. Rothschild Investment LLC increased its holdings in 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 acquiring an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new stake in Shopify in the 3rd quarter valued at about $27,000. Finally, Tradewinds Capital Management LLC lifted its holdings in Shopify by 71.4% during the second 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 during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $163.74 on Wednesday. The firm has a fifty day moving average price of $161.40 and a two-hundred day moving average price of $145.03. The company has a market cap of $213.16 billion, a price-to-earnings ratio of 121.29, a PEG ratio of 6.23 and a beta of 2.82. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHOP. Truist Financial set a $155.00 target price on shares of Shopify and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $181.00 price objective (up from $156.00) on shares of Shopify in a report on Wednesday, November 5th. Wells Fargo & Company reiterated an “overweight” rating and issued a $198.00 price objective (up from $125.00) on shares of Shopify in a research note on Wednesday, December 17th. DA Davidson increased their target price on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Shopify in a report on Monday, December 1st. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the company. According to MarketBeat, Shopify currently has an average rating of “Hold” and an average target price of $168.69.

Shopify 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.