nCino (NASDAQ:NCNO) Reaches New 1-Year Low – Time to Sell?

nCino, Inc. (NASDAQ:NCNO)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $28.48 and last traded at $29.26, with a volume of 995467 shares traded. The stock had previously closed at $30.53.

Analysts Set New Price Targets

Several research analysts have commented on NCNO shares. Needham & Company LLC boosted their price target on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Morgan Stanley reduced their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Scotiabank boosted their price target on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods increased their price objective on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.00 target price on shares of nCino in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Trading Down 5.0 %

The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -170.58, a PEG ratio of 5.77 and a beta of 0.66. The business has a fifty day moving average of $32.72 and a two-hundred day moving average of $34.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

Insider Transactions at nCino

In other nCino news, insider April Rieger sold 4,325 shares of nCino stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the transaction, the insider now owns 145,953 shares in the company, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gregory Orenstein sold 5,148 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80. Following the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,820,085 shares of company stock valued at $209,067,363 in the last 90 days. 28.40% of the stock is currently owned by insiders.

Institutional Trading of nCino

Institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Management One Co. Ltd. grew its holdings 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 worth $62,000 after buying an additional 341 shares in the last quarter. Victory Capital Management Inc. raised its holdings in nCino by 15.0% in the 3rd quarter. Victory Capital Management Inc. now owns 11,784 shares of the company’s stock valued at $372,000 after acquiring an additional 1,536 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of nCino by 5.9% during the 3rd quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock worth $465,000 after purchasing an additional 822 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of nCino during the third quarter worth $689,000. Finally, Quest Partners LLC grew its position in shares of nCino by 30.4% in the third quarter. Quest Partners LLC now owns 25,231 shares of the company’s stock valued at $797,000 after purchasing an additional 5,879 shares during the period. 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.