nCino (NASDAQ:NCNO) Sees Strong Trading Volume – Here’s Why

Shares of nCino, Inc. (NASDAQ:NCNO) saw strong trading volume on Friday . 2,356,111 shares traded hands during mid-day trading, an increase of 120% from the previous session’s volume of 1,072,367 shares.The stock last traded at $36.63 and had previously closed at $36.22.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial restated a “buy” rating and set a $37.00 target price on shares of nCino in a research report on Wednesday, August 28th. Piper Sandler restated an “overweight” rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, August 28th. Needham & Company LLC reduced their target price on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of nCino in a research report on Wednesday, August 28th. Finally, Macquarie restated an “outperform” rating and issued a $40.00 price target on shares of nCino in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, nCino currently has an average rating of “Moderate Buy” and an average price target of $38.18.

nCino Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $4.21 billion, a P/E ratio of -118.00, a PEG ratio of 26.59 and a beta of 0.59. The company’s fifty day simple moving average is $31.86 and its 200-day simple moving average is $31.56.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. Research analysts predict that nCino, Inc. will post 0.05 earnings per share for the current year.

Insider Transactions at nCino

In related news, Director Jeff Horing sold 1,356,721 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $36.02, for a total transaction of $48,869,090.42. Following the sale, the director now owns 14,656,746 shares of the company’s stock, valued at $527,935,990.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other nCino news, Director Insight Holdings Group, Llc sold 16,882 shares of nCino stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.11, for a total value of $558,963.02. Following the transaction, the director now directly owns 1,381,929 shares of the company’s stock, valued at approximately $45,755,669.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Horing sold 1,356,721 shares of the stock in a transaction on 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 sale, the director now owns 14,656,746 shares of the company’s stock, valued at approximately $527,935,990.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,545,869 shares of company stock valued at $121,838,227. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in nCino in the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in nCino during the 1st quarter worth approximately $52,000. Covestor Ltd increased its stake in nCino by 29.6% during the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after purchasing an additional 625 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of nCino by 145.6% in the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after buying an additional 2,677 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after buying an additional 1,134 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.