Shopify (TSE:SHOP) Cut to Sector Perform at ATB Capital

ATB Capital cut shares of Shopify (TSE:SHOP) from an outperform rating to a sector perform rating in a report released on Wednesday,BayStreet.CA reports. They currently have C$145.00 price objective on the stock, up from their previous price objective of C$120.00.

Separately, National Bankshares increased their price objective on shares of Shopify from C$100.00 to C$140.00 in a research report on Wednesday.

Shopify Trading Down 0.4 %

TSE SHOP opened at C$152.87 on Wednesday. Shopify has a 12 month low of C$72.36 and a 12 month high of C$161.86. The company has a current ratio of 7.32, a quick ratio of 5.74 and a debt-to-equity ratio of 12.40. The stock’s fifty day moving average price is C$111.46 and its 200-day moving average price is C$96.99. The stock has a market cap of C$184.97 billion, a P/E ratio of 110.32, a P/E/G ratio of 0.87 and a beta of 2.36.

Insider Buying and Selling at Shopify

In other news, Senior Officer Harley Michael Finkelstein sold 3,319 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$75.63, for a total transaction of C$251,027.59. Also, Director Tobyn David Shannan sold 424 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of C$91.85, for a total transaction of C$38,945.52. In the last three months, insiders have sold 38,423 shares of company stock worth $5,165,889. Insiders own 0.18% 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.