nCino Sees Unusually Large Options Volume (NASDAQ:NCNO)

nCino, Inc. (NASDAQ:NCNO) saw some unusual options trading activity on Friday. Investors purchased 5,251 call options on the stock. This represents an increase of 588% compared to the typical volume of 763 call options.

nCino Trading Up 0.7 %

Shares of nCino stock traded up $0.29 on Friday, reaching $42.17. The company had a trading volume of 101,971 shares, compared to its average volume of 1,059,376. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s 50-day moving average price is $36.44 and its two-hundred day moving average price is $33.21. nCino has a 1 year low of $27.47 and a 1 year high of $43.20.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts anticipate that nCino will post 0.05 earnings per share for the current year.

Insider Activity at nCino

In related news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On nCino

Large investors have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of nCino during the second quarter worth approximately $26,000. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after purchasing an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of nCino by 97.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after purchasing an additional 1,358 shares in the last quarter. West Tower Group LLC purchased a new position in nCino during the third quarter valued at approximately $126,000. Finally, Lazard Asset Management LLC raised its position in shares of nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after acquiring an additional 2,677 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on NCNO shares. Needham & Company LLC decreased their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of nCino in a research report on Monday, October 21st. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Macquarie reiterated an “outperform” rating and set a $40.00 target price on shares of nCino in a research report on Wednesday, October 23rd. Finally, Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.