nCino (NASDAQ:NCNO) Sees Strong Trading Volume – What’s Next?

nCino, Inc. (NASDAQ:NCNO) saw unusually-high trading volume on Friday . Approximately 2,356,111 shares traded hands during 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 recently issued reports on NCNO shares. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Tuesday, September 3rd. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. JMP Securities restated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a research report on Wednesday, August 28th. Finally, Needham & Company LLC reduced their price target on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, nCino currently has an average rating of “Moderate Buy” and a consensus price target of $38.18.

nCino Stock Up 0.9 %

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a market cap of $4.21 billion, a PE ratio of -116.84, a PEG ratio of 26.59 and a beta of 0.59. The company’s 50 day moving average price is $31.77 and its two-hundred day moving average price is $31.57.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. nCino’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, equities research analysts expect that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Insider Transactions at nCino

In other nCino news, Director Jeff Horing sold 921,614 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $33.50, for a total transaction of $30,874,069.00. Following the sale, the director now directly owns 17,552,574 shares of the company’s stock, valued at approximately $588,011,229. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jeff Horing sold 921,614 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $33.50, for a total transaction of $30,874,069.00. Following the sale, the director now directly owns 17,552,574 shares of the company’s stock, valued at $588,011,229. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Insight Holdings Group, Llc sold 16,882 shares of nCino stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.11, for a total value of $558,963.02. Following the completion of the sale, the director now owns 1,381,929 shares in the company, valued at approximately $45,755,669.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,189,148 shares of company stock worth $72,969,137. Company insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bamco Inc. NY lifted its stake in nCino by 83.7% in the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after buying an additional 421,500 shares during the last quarter. Simplicity Wealth LLC purchased a new position in nCino during the 2nd quarter worth $3,530,000. Clearbridge Investments LLC increased its stake in nCino by 14.7% in the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock valued at $45,985,000 after purchasing an additional 157,470 shares during the period. Select Equity Group L.P. boosted its stake in shares of nCino by 182.0% during the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after buying an additional 16,416 shares during the period. Finally, Motley Fool Asset Management LLC purchased a new position in shares of nCino during the first quarter worth about $1,175,000. 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.