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

Shopify Inc. (TSE:SHOP) shares reached a new 52-week high 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.

Wall Street Analyst Weigh In

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

Shopify Stock Performance

The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71. The stock has a market cap of C$170.85 billion, a P/E ratio of 83.06, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The company’s 50 day moving average price is C$161.03 and its 200-day moving average price is C$131.44.

Insider Activity at Shopify

In other Shopify news, Senior Officer Kasra Nejatian sold 50,000 shares of the stock in a transaction dated 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. Also, Director Tobyn David Shannan sold 433 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$163.19, for a total transaction of C$70,661.92. Over the last 90 days, insiders sold 63,690 shares of company stock worth $10,862,641. 0.18% of the stock is owned by company insiders.

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.