Shopify (TSE:SHOP) Hits New 1-Year Low Following Insider Selling

Shopify Inc. (TSE:SHOP)’s stock price hit a new 52-week low on Monday following insider selling activity. The stock traded as low as C$0.02 and last traded at C$158.50, with a volume of 634830 shares changing hands. The stock had previously closed at C$162.04.

Specifically, Senior Officer Harley Michael Finkelstein sold 1,711 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$158.03, for a total value of C$270,390.18. Also, Senior Officer Harley Michael Finkelstein sold 3,104 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of C$158.59, for a total value of C$492,263.81.

Analysts Set New Price Targets

Several analysts recently issued reports on SHOP shares. Mizuho increased their target price on Shopify from C$105.00 to C$110.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. National Bankshares upped their price target on Shopify from C$100.00 to C$140.00 in a research note on Wednesday, November 13th. Finally, ATB Capital cut shares of Shopify from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from C$120.00 to C$145.00 in a research report on Wednesday, November 13th.

Shopify Price Performance

The firm has a market cap of C$146.92 billion, a P/E ratio of 71.42, a P/E/G ratio of 0.87 and a beta of 2.36. The firm’s fifty day simple moving average is C$162.08 and its 200 day simple moving average is C$136.53. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71.

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.