Shopify (TSE:SHOP) Sets New 1-Year High – Here’s What Happened

Shares of Shopify Inc. (TSE:SHOP) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$183.38 and last traded at C$180.32, with a volume of 945948 shares. The stock had previously closed at C$181.92.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of recent research reports. ATB Capital downgraded shares of Shopify from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th. Mizuho raised their target price on Shopify from C$105.00 to C$110.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, National Bankshares boosted their price target on Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th.

Shopify Stock Performance

The stock’s 50-day moving average price is C$162.00 and its 200 day moving average price is C$132.84. 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 has a market cap of C$162.95 billion, a P/E ratio of 79.22, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

Insider Activity

In other news, Director Tobyn David Shannan sold 433 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$163.19, for a total value of C$70,661.92. Also, Senior Officer Kasra Nejatian sold 50,000 shares of the firm’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 transaction of C$8,637,893.55. Over the last 90 days, insiders sold 63,690 shares of company stock valued at $10,862,641. Insiders own 0.18% 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.