Shopify (TSE:SHOP) Trading Down 4.2% - Here's What Happened

Shopify Inc. (TSE:SHOP - Get Free Report) fell 4.2% on Tuesday . The company traded as low as C$167.50 and last traded at C$168.45. 1,865,892 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 2,169,047 shares. The stock had previously closed at C$175.79.

Wall Street Analyst Weigh In

Separately, ATB Capital lifted their price objective on shares of Shopify from C$155.00 to C$160.00 and gave the company an "outperform" rating in a research note on Friday, May 9th.

Shopify Trading Up 0.3%

The business's 50 day simple moving average is C$153.30 and its two-hundred day simple moving average is C$148.50. The stock has a market cap of C$155.08 billion, a P/E ratio of 75.39, a PEG ratio of 0.87 and a beta of 2.36. The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74.

Insider Activity

In related news, Director Prashanth Mahendra-Rajah sold 173 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$146.89, for a total value of C$25,412.21. Also, Senior Officer Jeff Hoffmeister sold 1,923 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of C$157.19, for a total transaction of C$302,274.32. In the last quarter, insiders have sold 41,104 shares of company stock valued at $6,190,880. 0.18% of the stock is currently owned by 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.