Shopify (TSE:SHOP) Trading Down 0.5% - Time to Sell?

Shopify Inc. (TSE:SHOP - Get Free Report) dropped 0.5% during mid-day trading on Thursday . The company traded as low as C$155.12 and last traded at C$156.17. Approximately 1,511,919 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 2,226,425 shares. The stock had previously closed at C$157.03.

Wall Street Analysts Forecast Growth

Separately, ATB Capital raised their target price on Shopify from C$155.00 to C$160.00 and gave the company an "outperform" rating in a report on Friday, May 9th.

Shopify Stock Performance

The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71. The stock has a market capitalization of C$138.34 billion, a PE ratio of 67.25, a P/E/G ratio of 0.87 and a beta of 2.36. The firm's 50 day moving average is C$141.45 and its two-hundred day moving average is C$148.26.

Insider Transactions at Shopify

In related news, Senior Officer Jessica Hertz sold 10,255 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$156.30, for a total value of C$1,602,815.48. Also, Senior Officer Harley Michael Finkelstein sold 4,955 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of C$149.69, for a total transaction of C$741,716.84. Over the last 90 days, insiders have sold 37,144 shares of company stock valued at $5,566,058. 0.18% of the stock is currently owned by company 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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