nCino (NASDAQ:NCNO) Sees Unusually-High Trading Volume - Here's What Happened

nCino, Inc. (NASDAQ:NCNO - Get Free Report) saw an uptick in trading volume on Friday . 2,356,111 shares were traded during mid-day trading, an increase of 120% from the previous session's volume of 1,072,367 shares.The stock last traded at $36.63 and had previously closed at $36.22.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NCNO. Macquarie reissued an "outperform" rating and issued a $40.00 target price on shares of nCino in a report on Wednesday, August 28th. JMP Securities reaffirmed a "market outperform" rating and set a $43.00 price target on shares of nCino in a research note on Wednesday, August 28th. Raymond James raised shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 price target on the stock in a research note on Tuesday, September 3rd. Needham & Company LLC decreased their price target on shares of nCino from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, August 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of nCino in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.18.

nCino Trading Up 1.0 %

The firm has a market cap of $4.21 billion, a PE ratio of -118.00, a P/E/G ratio of 26.59 and a beta of 0.59. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The company's 50 day moving average price is $31.86 and its two-hundred day moving average price is $31.58.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The business's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts forecast that nCino, Inc. will post 0.05 EPS for the current year.

Insider Transactions at nCino

In other news, insider Sean Desmond sold 30,000 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the transaction, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at $9,705,064.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the transaction, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,189,148 shares of company stock worth $72,969,137. Insiders own 28.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY grew its holdings in nCino by 83.7% during the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company's stock worth $34,576,000 after acquiring an additional 421,500 shares in the last quarter. Simplicity Wealth LLC bought a new position in nCino during the 2nd quarter worth about $3,530,000. Clearbridge Investments LLC grew its holdings in nCino by 14.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company's stock worth $45,985,000 after acquiring an additional 157,470 shares in the last quarter. Select Equity Group L.P. grew its holdings in nCino by 182.0% during the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company's stock worth $800,000 after acquiring an additional 16,416 shares in the last quarter. Finally, Motley Fool Asset Management LLC bought a new position in nCino during the 1st quarter worth about $1,175,000. 94.76% of the stock is currently owned by 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.