Shopify (TSE:SHOP) Trading Down 10.9% – Should You Sell?

Shopify Inc. (TSE:SHOP)’s share price fell 10.9% during trading on Thursday . The stock traded as low as C$114.10 and last traded at C$114.96. 1,775,431 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 2,336,124 shares. The stock had previously closed at C$129.09.

Analysts Set New Price Targets

Separately, Mizuho lifted their price target on shares of Shopify from C$105.00 to C$110.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th.

Shopify Trading Down 8.4 %

The company has a market cap of C$110.14 billion, a price-to-earnings ratio of 53.54, a price-to-earnings-growth 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. The company’s fifty day moving average price is C$150.83 and its two-hundred day moving average price is C$143.80.

Insider Buying and Selling at Shopify

In related news, Senior Officer Kasra Nejatian sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of C$172.76, for a total value of C$8,637,893.55. Also, Director Tobyn David Shannan sold 430 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of C$135.62, for a total value of C$58,318.61. In the last 90 days, insiders sold 60,853 shares of company stock worth $10,229,275. 0.18% of the stock is currently owned by corporate 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.