Shopify (TSE:SHOP) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Shopify Inc. (TSE:SHOP) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$155.07 and traded as low as C$149.05. Shopify shares last traded at C$149.55, with a volume of 2,739,516 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. ATB Capital lowered shares of Shopify from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from C$120.00 to C$145.00 in a research note on Wednesday, November 13th. National Bankshares increased their price target on shares of Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th.

Shopify Stock Up 0.4 %

The company has a market capitalization of C$180.96 billion, a PE ratio of 109.16, a P/E/G ratio of 0.87 and a beta of 2.36. The company has a debt-to-equity ratio of 12.40, a quick ratio of 5.74 and a current ratio of 7.32. The firm has a fifty day simple moving average of C$155.07 and a 200-day simple moving average of C$118.78.

Insider Buying and Selling at Shopify

In related news, Senior Officer Jessica Hertz sold 4,963 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$167.08, for a total value of C$829,193.57. Also, Director Colleen Johnston sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$151.82, for a total transaction of C$303,631.60. Insiders sold a total of 42,394 shares of company stock worth $6,521,950 over the last 90 days. 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.