Stock Traders Purchase High Volume of Call Options on nCino (NASDAQ:NCNO)

nCino, Inc. (NASDAQ:NCNO) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 4,605 call options on the company. This is an increase of 767% compared to the typical volume of 531 call options.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday. Morgan Stanley increased their target price on nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $42.00 target price on shares of nCino in a report on Wednesday. Truist Financial reduced their target price on nCino from $40.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, November 30th. Finally, Needham & Company LLC increased their price objective on nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.40.

Insider Buying and Selling at nCino

In other nCino news, VP Jeanette Sellers sold 3,850 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $33.73, for a total transaction of $129,860.50. Following the completion of the transaction, the vice president now directly owns 22,387 shares of the company’s stock, valued at approximately $755,113.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider April Rieger sold 1,460 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $30.66, for a total transaction of $44,763.60. Following the completion of the sale, the insider now owns 149,078 shares in the company, valued at approximately $4,570,731.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeanette Sellers sold 3,850 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $33.73, for a total value of $129,860.50. Following the sale, the vice president now owns 22,387 shares of the company’s stock, valued at approximately $755,113.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,935 shares of company stock valued at $1,069,845. 38.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. State of Wyoming increased its position in shares of nCino by 56.8% during the fourth quarter. State of Wyoming now owns 1,350 shares of the company’s stock valued at $36,000 after purchasing an additional 489 shares during the period. UBS Group AG grew its position in nCino by 218.7% in the third quarter. UBS Group AG now owns 1,807 shares of the company’s stock valued at $62,000 after acquiring an additional 1,240 shares during the period. PNC Financial Services Group Inc. grew its position in nCino by 643.3% in the third quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company’s stock valued at $113,000 after acquiring an additional 3,062 shares during the period. Advisory Services Network LLC grew its position in nCino by 41.7% in the first quarter. Advisory Services Network LLC now owns 5,545 shares of the company’s stock valued at $137,000 after acquiring an additional 1,633 shares during the period. Finally, Advisors Asset Management Inc. grew its position in nCino by 47.9% in the first quarter. Advisors Asset Management Inc. now owns 3,429 shares of the company’s stock valued at $141,000 after acquiring an additional 1,111 shares during the period. 94.76% of the stock is owned by institutional investors.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $37.38 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $30.79 and its two-hundred day moving average is $30.77. The company has a market cap of $4.23 billion, a P/E ratio of -98.37, a P/E/G ratio of 11.07 and a beta of 0.44. nCino has a 12 month low of $21.26 and a 12 month high of $37.48.

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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.