nCino (NASDAQ:NCNO) Trading Up 7.3% – Still a Buy?

Shares of nCino Inc. (NASDAQ:NCNO) rose 7.3% during trading on Monday . The company traded as high as $17.72 and last traded at $17.7650. Approximately 208,043 shares were traded during trading, a decline of 93% from the average daily volume of 3,002,115 shares. The stock had previously closed at $16.56.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Barclays lifted their target price on shares of nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Citigroup reissued a “market outperform” rating on shares of nCino in a report on Monday, June 22nd. The Goldman Sachs Group dropped their price target on shares of nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Finally, Piper Sandler upgraded shares of nCino from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $30.00 to $22.00 in a report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

nCino Trading Up 9.0%

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 150.32 and a beta of 0.68. The firm has a 50 day moving average price of $16.12 and a two-hundred day moving average price of $17.47.

Insider Buying and Selling at nCino

In other news, Director Pierre Naude sold 35,650 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the transaction, the director owned 1,108,473 shares in the company, valued at approximately $19,974,683.46. The trade was a 3.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the completion of the sale, the chief financial officer directly owned 702,293 shares in the company, valued at approximately $12,655,319.86. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 119,964 shares of company stock worth $2,143,529. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On nCino

Hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC lifted its holdings in nCino by 15.9% in the fourth quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company’s stock valued at $82,000 after buying an additional 444 shares during the period. Lecap Asset Management Ltd. raised its position in shares of nCino by 2.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company’s stock worth $799,000 after acquiring an additional 691 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of nCino by 76.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares during the period. Captrust Financial Advisors lifted its stake in shares of nCino by 1.2% in the 3rd quarter. Captrust Financial Advisors now owns 62,747 shares of the company’s stock valued at $1,701,000 after purchasing an additional 743 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of nCino by 14.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,958 shares of the company’s stock valued at $153,000 after purchasing an additional 765 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.