nCino (NASDAQ:NCNO) Sees Large Volume Increase

nCino, Inc. (NASDAQ:NCNO) saw unusually-strong trading volume on Thursday . Approximately 1,266,247 shares traded hands during trading, an increase of 34% from the previous session’s volume of 947,960 shares.The stock last traded at $31.89 and had previously closed at $30.60.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NCNO shares. Morgan Stanley boosted their target price on nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Needham & Company LLC restated a “buy” rating and set a $42.00 target price on shares of nCino in a research report on Thursday, May 30th. Robert W. Baird dropped their target price on nCino from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday, June 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target on shares of nCino in a research note on Monday, July 1st. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and an average price target of $36.00.

nCino Stock Down 1.2 %

The company has a market cap of $3.61 billion, a P/E ratio of -101.16, a P/E/G ratio of 17.33 and a beta of 0.59. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $31.08 and its 200 day moving average is $31.50.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Wednesday, May 29th. The company reported $0.05 EPS for the quarter. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. The company had revenue of $128.09 million during the quarter, compared to the consensus estimate of $126.59 million. As a group, equities analysts anticipate that nCino, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 133,487 shares of nCino stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total value of $4,206,175.37. Following the transaction, the director now directly owns 24,879,980 shares of the company’s stock, valued at $783,968,169.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other nCino news, CEO Pierre Naude sold 15,242 shares of nCino stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $30.63, for a total value of $466,862.46. Following the transaction, the chief executive officer now directly owns 1,144,153 shares of the company’s stock, valued at $35,045,406.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Horing sold 133,487 shares of nCino stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $31.51, for a total transaction of $4,206,175.37. Following the completion of the transaction, the director now directly owns 24,879,980 shares in the company, valued at $783,968,169.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,398,544 shares of company stock valued at $75,533,549. 28.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nCino

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of nCino by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after buying an additional 148,390 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of nCino by 18.9% during the fourth quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock valued at $75,777,000 after buying an additional 358,766 shares during the last quarter. Meritage Group LP grew its holdings in shares of nCino by 2.3% during the first quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after buying an additional 39,828 shares during the last quarter. Capital International Investors purchased a new stake in nCino in the first quarter valued at $60,703,000. Finally, Clearbridge Investments LLC boosted its holdings 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 last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Company Profile

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.