Shopify (TSE:SHOP) Stock Price Down 6.3% – Here’s What Happened

Shopify Inc. (TSE:SHOP)’s stock price 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.

Analyst Ratings Changes

Several research analysts recently commented on the stock. National Bankshares lifted their target price on shares of Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th. ATB Capital downgraded Shopify from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$120.00 to C$145.00 in a research report on Wednesday, November 13th.

Shopify Trading Down 6.3 %

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 company has a market capitalization of C$185.57 billion, a price-to-earnings ratio of 111.94, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The business has a fifty day moving average price of C$149.70 and a 200 day moving average price of C$116.20.

Insider Buying and Selling

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 426 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of C$110.63, for a total value of C$47,130.08. Also, Senior Officer Jessica Hertz sold 4,963 shares of Shopify 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 value of C$829,193.57. Over the last quarter, insiders have sold 42,394 shares of company stock valued at $6,521,950. 0.18% of the stock is owned by company insiders.

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.