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

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 trading hands.

Analysts Set New Price Targets

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

Shopify Stock Performance

The firm has a 50 day moving average of C$158.03 and a 200-day moving average of C$142.23. The company has a market cap of C$128.75 billion, a P/E ratio of 62.59, a PEG ratio of 0.87 and a beta of 2.36. The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74.

Insider Transactions at Shopify

In related news, Director Tobyn David Shannan sold 430 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of C$135.62, for a total transaction of C$58,318.61. Also, Senior Officer Harley Michael Finkelstein sold 5,214 shares of Shopify stock in a transaction dated Monday, March 10th. The shares were sold at an average price of C$135.62, for a total value of C$707,147.04. In the last 90 days, insiders have sold 60,853 shares of company stock valued at $10,229,275. 0.18% of the stock is currently owned by corporate 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.