Shopify (TSE:SHOP) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

Shopify Inc. (TSE:SHOP)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-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.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. National Bankshares upped their price objective on shares of Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th. ATB Capital cut shares of Shopify from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from C$120.00 to C$145.00 in a research note on Wednesday, November 13th.

Shopify Price Performance

The stock has a fifty day moving average of C$155.07 and a two-hundred day moving average of C$118.78. 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 stock has a market capitalization of C$180.96 billion, a price-to-earnings ratio of 109.16, a PEG ratio of 0.87 and a beta of 2.36.

Insider Buying and Selling

In other news, 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 transaction of C$4,009,702.63. Also, Senior Officer Harley Michael Finkelstein sold 426 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of C$110.63, for a total value of C$47,130.08. Insiders have sold a total of 42,394 shares of company stock worth $6,521,950 in the last 90 days. 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.