Shopify (TSE:SHOP) Shares Down 6.3% – Should You Sell?

Shopify Inc. (TSE:SHOP) dropped 6.3% 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 trading, an increase of 27% from the average daily volume of 1,582,551 shares. The stock had previously closed at C$163.67.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. National Bankshares upped their target price on Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th. ATB Capital cut shares of Shopify from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th.

Shopify Price Performance

The stock has a market cap of C$188.09 billion, a price-to-earnings ratio of 113.47, a PEG ratio of 0.87 and a beta of 2.36. The company has a 50 day simple moving average of C$150.58 and a 200-day simple moving average of C$116.47. The company has a quick ratio of 5.74, a current ratio of 7.32 and a debt-to-equity ratio of 12.40.

Insider Activity at Shopify

In related news, Director Tobyn David Shannan sold 433 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$163.19, for a total transaction of C$70,661.92. Also, Director Colleen Johnston sold 2,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$151.82, for a total value of C$303,631.60. In the last ninety days, insiders have sold 42,394 shares of company stock valued at $6,521,950. Corporate insiders own 0.18% of the company’s stock.

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.