nCino (NASDAQ:NCNO) Sees Unusually-High Trading Volume – Here’s Why

nCino, Inc. (NASDAQ:NCNO) saw unusually-strong trading volume on Wednesday . Approximately 4,717,876 shares traded hands 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.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NCNO shares. JMP Securities reissued a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Piper Sandler restated a “neutral” rating and issued a $38.00 target price on shares of nCino in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Tuesday, September 3rd. Finally, Needham & Company LLC raised their price objective on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Stock Up 2.0 %

The business has a fifty day moving average of $38.63 and a 200 day moving average of $33.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -207.16, a PEG ratio of 16.39 and a beta of 0.59.

Insider Transactions at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were 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. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,944,079 shares of company stock worth $180,523,026. 28.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of nCino during the second quarter worth about $26,000. Asset Management One Co. Ltd. lifted its position in nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake 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 purchasing an additional 1,358 shares during the last quarter. West Tower Group LLC acquired a new position in shares of nCino in the third quarter valued at approximately $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of nCino during the third quarter worth approximately $152,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.