Shopify (TSE:SHOP) Shares Down 19.3%

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

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their target price on Shopify from C$86.00 to C$90.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th.

Shopify Stock Down 19.4 %

The company has a debt-to-equity ratio of 12.69, a current ratio of 6.99 and a quick ratio of 5.74. The company has a market capitalization of C$103.18 billion, a price-to-earnings ratio of 659.23, a PEG ratio of 1.09 and a beta of 2.20. The firm has a 50-day moving average price of C$101.73 and a two-hundred day moving average price of C$99.95.

Insider Transactions at Shopify

In other news, Senior Officer Harley Michael Finkelstein sold 1,198 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$74.39, for a total transaction of C$89,119.22. Insiders sold 10,396 shares of company stock valued at $783,992 over the last three months. Company insiders own 0.19% 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.