Shopify (TSE:SHOP) Stock Price Crosses Below 50-Day Moving Average - Here's What Happened

Shopify Inc. (TSE:SHOP - Get Free Report)'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.

Wall Street Analysts Forecast Growth

Separately, Mizuho lifted their target price 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 company has a market cap of C$131.28 billion, a P/E ratio of 63.82, a PEG ratio of 0.87 and a beta of 2.36. The firm's 50-day moving average is C$157.53 and its two-hundred day moving average is C$143.47. The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74.

Insider Buying and Selling

In related news, Senior Officer Harley Michael Finkelstein sold 394 shares of the business's stock in a transaction 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. Also, Director Tobyn David Shannan sold 430 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of C$135.62, for a total value of C$58,318.61. Insiders sold a total of 60,853 shares of company stock worth $10,229,275 over the last three months. 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.