nCino (NASDAQ:NCNO) Sees Large Volume Increase – Should You Buy?

nCino, Inc. (NASDAQ:NCNO) saw an uptick in trading volume on Wednesday . 4,717,876 shares were traded 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 research analysts have issued reports on NCNO shares. Needham & Company LLC lifted their price target on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods upped their target price on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Stephens lifted their price target on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Macquarie boosted their price objective on shares of nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Morgan Stanley decreased their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, nCino has an average rating of “Moderate Buy” and an average target price of $42.50.

nCino Stock Down 2.9 %

The company’s 50 day moving average price is $38.56 and its two-hundred day moving average price is $33.94. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.98 billion, a PE ratio of -202.22, a PEG ratio of 16.82 and a beta of 0.59.

Insider Buying and Selling at nCino

In related news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the sale, the director now owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,944,079 shares of company stock valued at $180,523,026. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Several hedge funds have recently modified their holdings of NCNO. Crewe Advisors LLC bought a new stake in nCino in the second quarter worth $26,000. Asset Management One Co. Ltd. raised its position 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 buying an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after acquiring an additional 1,358 shares during the last quarter. West Tower Group LLC purchased a new position in nCino in the third quarter worth about $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in nCino during the third quarter valued at approximately $152,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

About nCino

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.