Shopify (TSE:SHOP) Stock Price Crosses Below 50 Day Moving Average – Time to 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.

Analysts Set New Price Targets

Several brokerages have weighed in on SHOP. ATB Capital downgraded Shopify from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from C$120.00 to C$145.00 in a research report on Wednesday, November 13th. National Bankshares lifted their price target on Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th.

Shopify Stock Performance

The company has a debt-to-equity ratio of 12.40, a quick ratio of 5.74 and a current ratio of 7.32. The firm’s 50 day moving average price is C$155.07 and its 200-day moving average price is C$118.78. The firm has a market capitalization of C$180.96 billion, a PE ratio of 109.16, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

Insider Activity

In other news, Director Tobyn David Shannan sold 433 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$163.19, for a total value of C$70,661.92. Also, Senior Officer Jessica Hertz sold 26,672 shares of the firm’s stock in a transaction dated 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. Insiders sold 42,394 shares of company stock worth $6,521,950 over the last three months. 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.