Shopify (TSE:SHOP) Shares Down 6.3% - Should You Sell?

Shopify Inc. (TSE:SHOP - Get Free Report) was down 6.3% during mid-day trading on Tuesday . The company traded as low as C$152.38 and last traded at C$153.36. Approximately 2,009,248 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 1,582,551 shares. The stock had previously closed at C$163.67.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SHOP. National Bankshares upped their target price on Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th. ATB Capital lowered Shopify from an "outperform" rating to a "sector perform" rating and increased their target price for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th.

Shopify Stock Performance

The firm's fifty day moving average is C$149.70 and its 200 day moving average is C$116.20. The firm has a market capitalization of C$185.57 billion, a price-to-earnings ratio of 111.94, a PEG ratio of 0.87 and a beta of 2.36. The company has a debt-to-equity ratio of 12.40, a current ratio of 7.32 and a quick ratio of 5.74.

Insider Buying and Selling at Shopify

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 426 shares of Shopify 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 value of C$47,130.08. Also, Director Tobyn David Shannan sold 433 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$163.19, for a total transaction of C$70,661.92. Insiders sold 42,394 shares of company stock valued at $6,521,950 in the last quarter. Company insiders own 0.18% of the company's stock.

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.

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