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

Calamos Wealth Management LLC lifted its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 22.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,204 shares of the software maker's stock after buying an additional 4,687 shares during the period. Calamos Wealth Management LLC's holdings in Shopify were worth $2,404,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SHOP. Brighton Jones LLC raised its holdings in shares of Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock valued at $2,252,000 after purchasing an additional 584 shares during the last quarter. Modera Wealth Management LLC bought a new stake in Shopify in the 4th quarter worth approximately $243,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Shopify by 16.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 37,342 shares of the software maker's stock valued at $3,971,000 after buying an additional 5,335 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Shopify by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,493,086 shares of the software maker's stock worth $265,206,000 after buying an additional 76,650 shares during the last quarter. Finally, Keybank National Association OH grew its holdings in shares of Shopify by 6.6% in the fourth quarter. Keybank National Association OH now owns 22,963 shares of the software maker's stock worth $2,442,000 after acquiring an additional 1,419 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of several research reports. KeyCorp dropped their target price on Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank cut their target price on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating for the company in a research report on Monday, April 28th. Barclays decreased their price target on shares of Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. DA Davidson boosted their price objective on shares of Shopify from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Royal Bank Of Canada decreased their target price on Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.66.

Shopify Stock Up 2.4%

NYSE SHOP opened at $117.50 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a market capitalization of $152.44 billion, a price-to-earnings ratio of 75.81, a PEG ratio of 4.82 and a beta of 2.63. The company has a fifty day moving average of $105.81 and a two-hundred day moving average of $104.78.

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.

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