nCino (NASDAQ:NCNO) Shares Down 3.1%

Shares of nCino, Inc. (NASDAQ:NCNO) were down 3.1% during mid-day trading on Wednesday . The stock traded as low as $29.14 and last traded at $29.22. Approximately 205,034 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 924,718 shares. The stock had previously closed at $30.17.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NCNO shares. Morgan Stanley boosted their price objective on nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Robert W. Baird reduced their price target on nCino from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Piper Sandler reduced their price target on nCino from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price target on shares of nCino in a report on Thursday, May 30th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $35.00 price target on shares of nCino in a report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.64.

nCino Stock Down 2.4 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average price of $31.67 and a 200-day moving average price of $31.35.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. The company had revenue of $123.69 million during the quarter, compared to analyst estimates of $124.58 million. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. Equities research analysts predict that nCino, Inc. will post 0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other nCino news, VP Jeanette Sellers sold 2,153 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $30.33, for a total transaction of $65,300.49. Following the transaction, the vice president now directly owns 27,360 shares in the company, valued at $829,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Jeanette Sellers sold 2,153 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $30.33, for a total value of $65,300.49. Following the sale, the vice president now directly owns 27,360 shares in the company, valued at $829,828.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela Kilday sold 1,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.48, for a total value of $36,480.00. Following the completion of the sale, the director now owns 20,930 shares in the company, valued at $763,526.40. The disclosure for this sale can be found here. Insiders have sold 1,114,061 shares of company stock worth $39,096,813 over the last ninety days. Corporate insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in nCino by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after purchasing an additional 148,390 shares in the last quarter. Wasatch Advisors LP boosted its holdings in nCino by 18.9% in the 4th quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock valued at $75,777,000 after purchasing an additional 358,766 shares in the last quarter. Meritage Group LP boosted its holdings in nCino by 2.3% in the 1st quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after purchasing an additional 39,828 shares in the last quarter. Capital International Investors purchased a new stake in nCino in the 1st quarter valued at approximately $60,703,000. Finally, Fred Alger Management LLC boosted its holdings in nCino by 6.4% in the 3rd quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock valued at $42,582,000 after purchasing an additional 80,556 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.