Kinaxis (TSE:KXS) Shares Cross Below Fifty Day Moving Average - Time to Sell?

Key Points

• Kinaxis Inc. shares fell below their 50-day moving average of C$194.71, trading at C$180.55, raising concerns among investors about potential sell signals.
• Recent upgrades from analysts included price targets ranging from C$235.00 to C$245.00, with the overall consensus rating on the stock being a "Moderate Buy."
• Insiders have sold a notable amount of shares recently, with one insider reducing their holdings by 17.17%, signaling possible confidence concerns within the company.

Kinaxis Inc. (TSE:KXS - Get Free Report) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$194.71 and traded as low as C$179.32. Kinaxis shares last traded at C$180.55, with a volume of 54,949 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Kinaxis from C$225.00 to C$235.00 in a research report on Friday, August 8th. Stifel Nicolaus boosted their price target on shares of Kinaxis from C$225.00 to C$245.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Scotiabank boosted their price target on shares of Kinaxis from C$225.00 to C$240.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$216.43.

Kinaxis Stock Performance

The company's 50 day moving average price is C$194.71 and its 200-day moving average price is C$187.77. The stock has a market cap of C$5.10 billion, a P/E ratio of 209.94, a price-to-earnings-growth ratio of 3.60 and a beta of 0.93. The company has a debt-to-equity ratio of 12.12, a quick ratio of 2.29 and a current ratio of 1.89.

Insider Activity

In other news, insider Mark Justin Morgan sold 2,281 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of C$198.63, for a total value of C$453,081.87. Following the completion of the sale, the insider owned 11,000 shares in the company, valued at C$2,184,963. This represents a 17.17% decrease in their ownership of the stock. Also, insider Andrew William Robert Bell sold 275 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of C$193.18, for a total transaction of C$53,124.50. Following the completion of the sale, the insider owned 1,919 shares of the company's stock, valued at approximately C$370,712.42. This represents a 12.53% decrease in their position. Insiders sold a total of 8,656 shares of company stock worth $1,665,206 over the last quarter. Insiders own 1.20% of the company's stock.

About Kinaxis

Kinaxis Inc is a Canada-based provider of software solutions for sales and operations planning (S&OP) and supply chain management. The firm's flagship RapidResponse product is offered on the cloud. Its capabilities include consequence evaluation and alerting, responsibility-based collaboration, high-speed analytics, and scenario simulation.

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