nCino (NASDAQ:NCNO) Reaches New 52-Week Low – Should You Sell?

nCino Inc. (NASDAQ:NCNO)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.80 and last traded at $14.0260, with a volume of 1429639 shares traded. The stock had previously closed at $15.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NCNO. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of nCino in a report on Thursday, December 4th. UBS Group restated a “buy” rating and issued a $36.00 price target on shares of nCino in a research report on Tuesday, December 9th. Truist Financial decreased their price objective on nCino from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. JPMorgan Chase & Co. lowered their target price on nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Finally, BTIG Research began coverage on nCino in a report on Tuesday, December 16th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.47.

nCino Trading Down 6.7%

The company has a market cap of $1.60 billion, a price-to-earnings ratio of -77.72, a P/E/G ratio of 2.85 and a beta of 0.59. The business has a fifty day simple moving average of $17.88 and a 200 day simple moving average of $23.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24.

nCino declared that its Board of Directors has authorized a share repurchase program on Monday, December 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Pierre Naude sold 24,273 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $453,419.64. Following the transaction, the director directly owned 1,166,823 shares in the company, valued at $21,796,253.64. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sean Desmond sold 16,047 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $299,757.96. Following the sale, the chief executive officer owned 602,550 shares of the company’s stock, valued at $11,255,634. The trade was a 2.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 69,803 shares of company stock worth $1,345,743 over the last ninety days. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On nCino

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in nCino by 186.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after purchasing an additional 617 shares during the period. CWM LLC boosted its position in shares of nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after buying an additional 821 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of nCino by 68.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after buying an additional 458 shares during the period. AlphaQuest LLC grew its position in nCino by 5,022.2% in the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock valued at $37,000 after acquiring an additional 1,356 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of nCino in the fourth quarter valued at $38,000. Institutional investors and hedge funds 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.