nCino (NASDAQ:NCNO) Sets New 1-Year Low - Here's What Happened

nCino, Inc. (NASDAQ:NCNO - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $28.48 and last traded at $29.26, with a volume of 995467 shares changing hands. The stock had previously closed at $30.53.

Analyst Ratings Changes

NCNO has been the subject of several recent research reports. Scotiabank increased their price target on nCino from $36.00 to $46.00 and gave the company a "sector outperform" rating in a report on Wednesday, December 4th. William Blair reaffirmed an "outperform" rating on shares of nCino in a report on Thursday, December 5th. Barclays raised nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price target for the company in a report on Monday, January 6th. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Finally, Macquarie increased their price objective on nCino from $40.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, nCino currently has an average rating of "Moderate Buy" and an average price target of $42.50.

nCino Stock Performance

The stock has a market capitalization of $3.26 billion, a PE ratio of -165.81, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The stock has a fifty day moving average of $32.53 and a 200-day moving average of $34.35. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

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Insider Activity 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, CFO Gregory Orenstein sold 5,148 shares of the firm's stock in a transaction on 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 sale, the chief financial officer now owns 271,744 shares in the company, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,631,708 shares of company stock worth $165,467,043. Company insiders own 28.40% of the company's stock.

Institutional Trading of nCino

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp purchased a new position in shares of nCino during the fourth quarter worth about $34,000. Hilltop National Bank purchased a new stake in nCino in the 4th quarter valued at approximately $37,000. Johnson Financial Group Inc. purchased a new stake in nCino in the 4th quarter valued at approximately $57,000. Asset Management One Co. Ltd. boosted its holdings in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares in the last quarter. Finally, West Tower Group LLC purchased a new stake in nCino in the 3rd quarter valued at approximately $126,000. Institutional investors and hedge funds 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.