nCino (NASDAQ:NCNO) Stock Price Up 7.3% – What’s Next?

Shares of nCino Inc. (NASDAQ:NCNO) rose 7.3% during trading on Thursday. The company traded as high as $19.57 and last traded at $19.4480. 836,975 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,874,214 shares. The stock had previously closed at $18.13.

Analysts Set New Price Targets

NCNO has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, August 26th. Barclays upped their target price on shares of nCino from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. UBS Group reiterated a “buy” rating on shares of nCino in a research note on Wednesday, August 26th. Piper Sandler started coverage on shares of nCino in a research note on Monday, August 24th. They set an “overweight” rating and a $25.00 target price for the company. Finally, BTIG Research reissued a “neutral” rating on shares of nCino in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.38.

nCino Price Performance

The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 64.85 and a beta of 0.69. The company has a 50 day simple moving average of $20.34 and a 200-day simple moving average of $17.76. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 8,064 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $23.66, for a total transaction of $190,794.24. Following the completion of the sale, the chief executive officer directly owned 1,231,080 shares in the company, valued at approximately $29,127,352.80. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider April Rieger sold 6,098 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $21.98, for a total transaction of $134,034.04. Following the transaction, the insider owned 369,651 shares in the company, valued at $8,124,928.98. This represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 90,138 shares of company stock valued at $1,777,515. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On nCino

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. bought a new position in shares of nCino during the first quarter worth approximately $32,000. IFP Advisors Inc boosted its position in shares of nCino by 7,370.4% during the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,990 shares in the last quarter. Versant Capital Management Inc raised its position in nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after purchasing an additional 2,101 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of nCino by 5,250.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock valued at $50,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Essential Partners LLC raised its stake in nCino by 9,400.0% during the first quarter. Essential Partners LLC now owns 3,800 shares of the company’s stock worth $57,000 after acquiring an additional 3,760 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Company Profile

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize and manage core banking processes through a unified, configurable operating environment.

The company’s products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.