Shopify (TSE:SHOP) Shares Down 6.3% – Here’s Why

Shopify Inc. (TSE:SHOP)’s stock price fell 6.3% on Tuesday . The company traded as low as C$152.38 and last traded at C$153.36. 2,009,248 shares were traded during trading, an increase of 27% from the average session volume of 1,582,551 shares. The stock had previously closed at C$163.67.

Analysts Set New Price Targets

SHOP has been the topic of a number of research analyst reports. ATB Capital lowered shares of Shopify from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th. National Bankshares lifted their target price on Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th.

Shopify Trading Up 0.4 %

The company has a debt-to-equity ratio of 12.40, a current ratio of 7.32 and a quick ratio of 5.74. The business’s 50-day simple moving average is C$150.58 and its two-hundred day simple moving average is C$116.47. The stock has a market capitalization of C$188.09 billion, a price-to-earnings ratio of 113.47, a PEG ratio of 0.87 and a beta of 2.36.

Insider Activity at Shopify

In related news, Senior Officer Jessica Hertz sold 4,963 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$167.08, for a total transaction of C$829,193.57. Also, Senior Officer Harley Michael Finkelstein sold 426 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of C$110.63, for a total transaction of C$47,130.08. In the last 90 days, insiders have sold 42,394 shares of company stock worth $6,521,950. 0.18% of the stock is currently owned by corporate insiders.

Shopify Company Profile

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.