Shopify (TSE:SHOP) Stock Passes Below 50-Day Moving Average – What’s Next?

Shopify Inc. (TSE:SHOP) shares 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.

Wall Street Analyst Weigh In

Separately, Mizuho increased their price objective on shares of 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 firm has a fifty day moving average of C$158.03 and a 200 day moving average of C$142.58. The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74. The company has a market capitalization of C$128.75 billion, a P/E ratio of 62.59, a P/E/G ratio of 0.87 and a beta of 2.36.

Insider Activity at Shopify

In other news, Senior Officer Kasra Nejatian sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of C$172.76, for a total value of C$8,637,893.55. Also, Senior Officer Harley Michael Finkelstein sold 394 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of C$160.56, for a total transaction of C$63,261.55. Over the last 90 days, insiders sold 60,853 shares of company stock worth $10,229,275. 0.18% of the stock is owned by 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.