Shopify (TSE:SHOP) Shares Down 0.5% - Here's What Happened

Shopify Inc. (TSE:SHOP - Get Free Report)'s share price was down 0.5% during trading on Thursday . The company traded as low as C$155.12 and last traded at C$156.17. Approximately 1,511,919 shares changed 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.

Analysts Set New Price Targets

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

Shopify Price Performance

The firm has a market cap of C$145.03 billion, a PE ratio of 70.51, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74. The stock's fifty day moving average price is C$143.00 and its 200-day moving average price is C$147.92.

Insider Activity at Shopify

In other news, Senior Officer Harley Michael Finkelstein sold 1,700 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of C$135.43, for a total value of C$230,236.44. Also, Director Prashanth Mahendra-Rajah sold 173 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$146.89, for a total transaction of C$25,412.21. In the last quarter, insiders sold 37,144 shares of company stock valued at $5,566,058. Corporate insiders own 0.18% of the company's stock.

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.