nCino (NASDAQ:NCNO) Stock Jumps 6.9% – Still a Buy?

nCino Inc. (NASDAQ:NCNO)’s stock price traded up 6.9% on Thursday. The stock traded as high as $20.66 and last traded at $21.03. 161,777 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 2,809,471 shares. The stock had previously closed at $19.67.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NCNO. Stephens assumed coverage on shares of nCino in a research report on Friday. They issued an “overweight” rating and a $26.00 price target on the stock. Citizens Jmp lifted their price objective on shares of nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods boosted their price objective on shares of nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Truist Financial upped their target price on shares of nCino from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, August 26th. Finally, Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.38.

nCino Stock Performance

The stock has a market cap of $2.17 billion, a P/E ratio of 68.37 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $20.63 and its two-hundred day simple moving average is $18.13.

Insider Activity

In other news, insider April Rieger sold 6,098 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $21.98, for a total value of $134,034.04. Following the completion of the sale, the insider owned 369,651 shares of the company’s stock, valued at approximately $8,124,928.98. This represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 1,536 shares of nCino stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total transaction of $29,998.08. Following the completion of the transaction, the senior vice president directly owned 48,453 shares of the company’s stock, valued at approximately $946,287.09. This trade represents a 3.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 134,130 shares of company stock worth $2,662,794. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. acquired a new position in shares of nCino in the first quarter valued at $32,000. IFP Advisors Inc raised its stake in nCino by 7,370.4% in the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,990 shares in the last quarter. Versant Capital Management Inc raised its stake in nCino by 664.9% in the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after purchasing an additional 2,101 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of nCino by 5,250.0% in the first quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock valued at $50,000 after buying an additional 3,255 shares during the period. Finally, Essential Partners LLC grew its position in nCino by 9,400.0% during the first quarter. Essential Partners LLC now owns 3,800 shares of the company’s stock worth $57,000 after buying an additional 3,760 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

nCino Company Profile

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize and manage core banking processes through a unified, configurable operating environment.

The company’s products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.