Shopify CEO Buys $10 Million of Stock in the Open Market

Shopify

CEO Tobias Lutke disclosed in a Canadian securities filing that he bought $10 million of the e-commerce software company’s shares on Monday, a week after the company reported its third-quarter financial results.

The purchase included 282,942 shares at an average price of $35.34 each, according to the Tuesday filing. This is the second time this year that Lutke has increased his bet on Shopify (ticker: SHOP) shares. In May, he likewise invested $10 million, buying 29,617 shares at $337.86 each, or $33.79 following a 10-for-1 stock split completed in June.