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

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$158.03 and traded as low as C$137.30. Shopify shares last traded at C$138.25, with a volume of 2,201,428 shares traded.

Analyst Ratings Changes

Separately, Mizuho raised their price target on Shopify from C$105.00 to C$110.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th.

Shopify Price Performance

The stock has a market capitalization of C$128.75 billion, a PE ratio of 62.59, a P/E/G ratio of 0.87 and a beta of 2.36. The firm’s 50 day simple moving average is C$158.03 and its 200 day simple moving average is C$142.58. The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74.

Insiders Place Their Bets

In related news, Senior Officer Kasra Nejatian sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of C$172.76, for a total transaction of C$8,637,893.55. Also, Senior Officer Harley Michael Finkelstein sold 394 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of C$160.56, for a total value of C$63,261.55. Insiders have sold 60,853 shares of company stock valued at $10,229,275 in the last ninety days. Company 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.