Shopify (TSE:SHOP) Sets New 52-Week Low on Insider Selling

Shopify Inc. (TSE:SHOP - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as C$0.02 and last traded at C$158.50, with a volume of 634830 shares traded. The stock had previously closed at C$162.04.

Specifically, Senior Officer Harley Michael Finkelstein sold 1,711 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$158.03, for a total value of C$270,390.18. Also, Senior Officer Harley Michael Finkelstein sold 3,104 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$158.59, for a total transaction of C$492,263.81.

Analysts Set New Price Targets

Several equities analysts have recently commented on SHOP shares. Mizuho boosted their target price on shares of Shopify from C$105.00 to C$110.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. ATB Capital lowered Shopify from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from C$120.00 to C$145.00 in a research report on Wednesday, November 13th. Finally, National Bankshares boosted their price objective on shares of Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th.

Shopify Stock Performance

The firm has a market capitalization of C$136.57 billion, a price-to-earnings ratio of 66.39, a PEG ratio of 0.87 and a beta of 2.36. The firm's 50 day simple moving average is C$161.64 and its 200 day simple moving average is C$137.31. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71.

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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.