Traders Buy High Volume of nCino Call Options (NASDAQ:NCNO)

nCino, Inc. (NASDAQ:NCNO) was the recipient of unusually large options trading activity on Friday. Stock investors acquired 5,251 call options on the company. This represents an increase of approximately 588% compared to the typical volume of 763 call options.

Insiders Place Their Bets

In other news, insider Sean Desmond sold 30,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the transaction, the insider now directly owns 341,511 shares of the company’s stock, valued at $11,874,337.47. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Horing sold 1,356,721 shares of nCino stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42. Following the completion of the transaction, the director now owns 14,656,746 shares of the company’s stock, valued at approximately $527,935,990.92. This trade represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock worth $117,599,204 over the last quarter. 28.40% of the stock is currently owned by company insiders.

Institutional Trading of nCino

Institutional investors and hedge funds have recently modified their holdings of the business. Crewe Advisors LLC bought a new position in nCino during the 2nd quarter valued at about $26,000. Asset Management One Co. Ltd. lifted its position in nCino by 21.1% during 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 period. Benjamin F. Edwards & Company Inc. boosted its holdings in nCino by 97.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares during the last quarter. West Tower Group LLC purchased a new stake in nCino in the third quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in nCino during the 3rd quarter valued at $152,000. Institutional investors own 94.76% of the company’s stock.

nCino Stock Performance

Shares of NCNO traded up $0.29 during mid-day trading on Friday, reaching $42.17. The company had a trading volume of 101,971 shares, compared to its average volume of 1,059,376. The firm has a 50-day moving average price of $36.44 and a 200 day moving average price of $33.21. nCino has a 52 week low of $27.47 and a 52 week high of $43.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays boosted their price target on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday. William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. JMP Securities restated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Finally, Truist Financial reissued a “buy” rating and issued a $44.00 target price (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

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.