nCino (NASDAQ:NCNO) Sets New 1-Year Low – Here’s Why

nCino, Inc. (NASDAQ:NCNO)’s share price reached a new 52-week low on Monday . The company traded as low as $28.48 and last traded at $29.26, with a volume of 995467 shares. The stock had previously closed at $30.53.

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of analyst reports. Stephens lifted their price target on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Robert W. Baird reduced their target price on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Needham & Company LLC increased their price target on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.50.

nCino Trading Up 2.0 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -170.70, a P/E/G ratio of 5.77 and a beta of 0.66. The company’s fifty day moving average is $32.62 and its two-hundred day moving average is $34.38.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 4,325 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the sale, the insider now directly owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory Orenstein sold 5,148 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,652,411 shares of company stock valued at $166,225,394 over the last 90 days. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in shares of nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after purchasing an additional 344,269 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of nCino in the third quarter worth about $689,000. Verition Fund Management LLC purchased a new stake in shares of nCino during the 3rd quarter worth about $594,000. Charles Schwab Investment Management Inc. boosted its stake in shares of nCino by 51.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after acquiring an additional 189,283 shares in the last quarter. Finally, Commerce Bank acquired a new stake in shares of nCino during the 3rd quarter valued at about $575,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.