nCino (NASDAQ:NCNO) Shares Gap Down to $37.38

Shares of nCino, Inc. (NASDAQ:NCNO - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $37.38, but opened at $36.00. nCino shares last traded at $35.92, with a volume of 223,959 shares traded.

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of nCino from $27.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 27th. Piper Sandler restated an "overweight" rating and issued a $42.00 target price on shares of nCino in a research note on Wednesday, March 27th. Needham & Company LLC upped their target price on shares of nCino from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, March 27th. William Blair reaffirmed an "outperform" rating on shares of nCino in a research report on Wednesday, March 27th. Finally, Robert W. Baird upped their price target on shares of nCino from $34.00 to $36.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.40.

nCino Price Performance

The stock's 50-day moving average is $30.95 and its 200 day moving average is $30.83. The company has a market cap of $4.04 billion, a PE ratio of -93.03, a PEG ratio of 55.11 and a beta of 0.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17.

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 27,513 shares of the firm's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.09, for a total value of $992,944.17. Following the completion of the transaction, the insider now owns 128,075 shares of the company's stock, valued at $4,622,226.75. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Steven A. Collins sold 3,700 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $35.56, for a total value of $131,572.00. Following the sale, the director now owns 67,216 shares in the company, valued at $2,390,200.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider April Rieger sold 27,513 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.09, for a total transaction of $992,944.17. Following the completion of the sale, the insider now owns 128,075 shares in the company, valued at approximately $4,622,226.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,448 shares of company stock valued at $2,099,270. Insiders own 38.20% of the company's stock.

Institutional Trading of nCino

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming increased its stake in shares of nCino by 56.8% in the fourth quarter. State of Wyoming now owns 1,350 shares of the company's stock worth $36,000 after acquiring an additional 489 shares during the period. UBS Group AG grew its position in nCino by 218.7% during the third quarter. UBS Group AG now owns 1,807 shares of the company's stock valued at $62,000 after buying an additional 1,240 shares during the period. PNC Financial Services Group Inc. grew its position in nCino by 643.3% during the third quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company's stock valued at $113,000 after buying an additional 3,062 shares during the period. Advisory Services Network LLC grew its position in nCino by 41.7% during the first quarter. Advisory Services Network LLC now owns 5,545 shares of the company's stock valued at $137,000 after buying an additional 1,633 shares during the period. Finally, Advisors Asset Management Inc. grew its position in nCino by 47.9% during the first quarter. Advisors Asset Management Inc. now owns 3,429 shares of the company's stock valued at $141,000 after buying an additional 1,111 shares during the period. 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, 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.