nCino (NASDAQ:NCNO) Sets New 52-Week Low – Should You Sell?

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

Analysts Set New Price Targets

A number of research firms have weighed in on NCNO. UBS Group started coverage on shares of nCino in a research report on Monday, December 16th. They set a “buy” rating and a $44.00 price objective for the company. William Blair restated an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Piper Sandler reiterated a “neutral” rating and issued a $38.00 price objective on shares of nCino in a report on Thursday, December 5th. KeyCorp reissued a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Finally, Morgan Stanley lowered their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

nCino Stock Performance

The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $32.62 and a 200 day moving average price of $34.38. The firm has a market capitalization of $3.36 billion, a PE ratio of -170.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66.

Insider Buying and Selling

In other nCino news, CFO Gregory Orenstein sold 5,148 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $167,824.80. Following the sale, the chief financial officer now directly owns 271,744 shares in the company, valued at $8,858,854.40. This represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff Horing sold 20,703 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.63, for a total transaction of $758,350.89. Following the completion of the transaction, the director now owns 9,058,298 shares of the company’s stock, valued at approximately $331,805,455.74. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,652,411 shares of company stock valued at $166,225,394. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock valued at $363,697,000 after buying an additional 948,282 shares during the period. Wasatch Advisors LP lifted its position in shares of nCino by 171.9% during the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock worth $207,450,000 after purchasing an additional 3,905,802 shares during the last quarter. Capital International Investors raised its stake in nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock valued at $157,531,000 after buying an additional 1,710,893 shares in the last quarter. Long Path Partners LP lifted its holdings in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after buying an additional 1,131,271 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of nCino by 139.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock worth $108,834,000 after acquiring an additional 1,889,283 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other 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.