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

nCino, Inc. (NASDAQ:NCNO - Get Free Report) shares saw an uptick in trading volume on Wednesday . 4,717,876 shares traded hands during trading, an increase of 330% from the previous session's volume of 1,097,252 shares.The stock last traded at $36.15 and had previously closed at $35.40.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $43.00 price target on shares of nCino in a research note on Wednesday, August 28th. Needham & Company LLC upped their target price 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. Morgan Stanley lowered 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 note on Friday, December 6th. Scotiabank boosted their price target on shares of nCino from $36.00 to $46.00 and gave the company a "sector outperform" rating in a research note on Wednesday, December 4th. Finally, UBS Group assumed coverage on shares of nCino in a research report on Monday. They set a "buy" rating and a $44.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.

nCino Stock Performance

The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -202.22, a PEG ratio of 16.82 and a beta of 0.59. The firm has a 50 day moving average price of $38.61 and a 200-day moving average price of $33.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

Insider Buying and Selling at nCino

In other nCino news, Director Jeff Horing sold 70,673 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $36.11, for a total value of $2,552,002.03. Following the sale, the director now directly owns 8,987,625 shares in the company, valued at $324,543,138.75. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the sale, the director now directly owns 226,201 shares of the company's stock, valued at $8,482,537.50. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,944,079 shares of company stock valued at $180,523,026 in the last quarter. Corporate insiders own 28.40% of the company's stock.

Institutional Investors Weigh In On nCino

Hedge funds and other institutional investors have recently made changes to their positions in the business. Asset Management One Co. Ltd. increased its stake in nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company's stock valued at $62,000 after purchasing an additional 341 shares during the last quarter. Malaga Cove Capital LLC grew its position in shares of nCino by 3.0% in the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company's stock valued at $430,000 after buying an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in nCino by 3.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company's stock worth $459,000 after acquiring an additional 508 shares in the last quarter. Precision Wealth Strategies LLC lifted its position in nCino by 4.5% in the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company's stock valued at $428,000 after acquiring an additional 589 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in nCino in the second quarter valued at $26,000. Institutional investors and hedge funds own 94.76% of the company's stock.

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.