nCino (NASDAQ:NCNO) Sees Large Volume Increase – Time to Buy?

Shares of nCino, Inc. (NASDAQ:NCNO) saw an uptick in trading volume on Wednesday . 4,717,876 shares traded hands during mid-day trading, an increase of 330% from the previous session’s volume of 1,097,252 shares.The stock last traded at $36.15 and had previously closed at $35.40.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group began coverage on nCino in a research note on Monday. They issued a “buy” rating and a $44.00 price target on the stock. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Tuesday, September 3rd. Stephens lifted their price objective on nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. William Blair reiterated an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Finally, Piper Sandler restated a “neutral” rating and set a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, nCino has an average rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Stock Down 2.9 %

The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -202.22, a PEG ratio of 16.82 and a beta of 0.59. The stock has a 50 day simple moving average of $38.56 and a 200 day simple moving average of $33.94. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insider Buying and Selling at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This trade represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeff Horing sold 1,356,721 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42. Following the completion of the sale, the director now owns 14,656,746 shares in the company, valued at $527,935,990.92. This represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,944,079 shares of company stock worth $180,523,026. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Asset Management One Co. Ltd. raised its stake in shares of nCino by 21.1% during the 3rd 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 during the period. Malaga Cove Capital LLC increased its position in shares of nCino by 3.0% during the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock valued at $430,000 after buying an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of nCino by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after buying an additional 508 shares in the last quarter. Precision Wealth Strategies LLC boosted its position in shares of nCino by 4.5% in the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock valued at $428,000 after acquiring an additional 589 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of nCino in the second quarter worth $26,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.