Shopify (TSE:SHOP) Share Price Passes Below 50 Day Moving Average – Here’s Why

Shopify Inc. (TSE:SHOP)’s stock price crossed 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.

Analyst Ratings Changes

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

Shopify Stock Up 0.4 %

The stock has a market capitalization of C$180.96 billion, a P/E ratio of 109.16, a P/E/G ratio of 0.87 and a beta of 2.36. 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 firm’s fifty day moving average is C$155.63 and its 200-day moving average is C$119.39.

Insider Transactions at Shopify

In related news, Senior Officer Harley Michael Finkelstein sold 426 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of C$110.63, for a total value of C$47,130.08. Also, Senior Officer Jessica Hertz sold 26,672 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of C$150.33, for a total value of C$4,009,702.63. Over the last 90 days, insiders sold 42,394 shares of company stock valued at $6,521,950. Corporate 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.