Shopify (TSE:SHOP) Shares Down 19.3%

Shopify Inc. (TSE:SHOP)’s stock price traded down 19.3% during trading on Wednesday . The company traded as low as C$83.33 and last traded at C$85.30. 1,254,293 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 2,593,744 shares. The stock had previously closed at C$105.75.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised their target price on shares of Shopify from C$86.00 to C$90.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th.

Shopify Stock Performance

The business’s 50-day moving average price is C$101.73 and its 200-day moving average price is C$99.95. The company has a current ratio of 6.99, a quick ratio of 5.74 and a debt-to-equity ratio of 12.69. The stock has a market cap of C$103.18 billion, a PE ratio of 659.23, a P/E/G ratio of 1.09 and a beta of 2.20.

Insiders Place Their Bets

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 424 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of C$71.84, for a total transaction of C$30,460.84. In the last quarter, insiders have sold 10,396 shares of company stock valued at $783,992. Insiders own 0.19% 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.