Shopify (TSE:SHOP) Stock Price Down 3.8% - Here's Why

Shares of Shopify Inc. (TSE:SHOP - Get Free Report) fell 3.8% during mid-day trading on Thursday . The company traded as low as C$132.95 and last traded at C$133.58. 168,623 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,043,815 shares. The stock had previously closed at C$138.84.

Analyst Ratings Changes

SHOP has been the subject of several research reports. Mizuho raised their price target on Shopify from C$105.00 to C$110.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. ATB Capital cut Shopify from an "outperform" rating to a "sector perform" rating and increased their price target for the company from C$120.00 to C$145.00 in a research note on Wednesday, November 13th. Finally, National Bankshares lifted their price target on shares of Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th.

Shopify Price Performance

The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74. The firm has a fifty day moving average of C$160.09 and a two-hundred day moving average of C$138.61. The company has a market capitalization of C$122.55 billion, a PE ratio of 59.58, a PEG ratio of 0.87 and a beta of 2.36.

Insider Activity at Shopify

In other Shopify news, Director Tobyn David Shannan sold 430 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of C$135.62, for a total value of C$58,318.61. Also, Senior Officer Harley Michael Finkelstein sold 394 shares of the company's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of C$160.56, for a total transaction of C$63,261.55. Insiders have sold 60,853 shares of company stock worth $10,229,275 over the last ninety days. 0.18% of the stock is 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.

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