nCino, Inc. (NASDAQ:NCNO) Short Interest Update

nCino, Inc. (NASDAQ:NCNO - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 5,590,000 shares, a growth of 23.4% from the March 15th total of 4,530,000 shares. Approximately 8.0% of the company's stock are short sold. Based on an average daily trading volume, of 902,200 shares, the days-to-cover ratio is presently 6.2 days.

nCino Stock Performance

nCino stock traded down $1.13 during midday trading on Monday, hitting $31.04. The stock had a trading volume of 1,355,917 shares, compared to its average volume of 923,943. The firm's fifty day moving average is $31.35 and its two-hundred day moving average is $30.98. The company has a market capitalization of $3.55 billion, a PE ratio of -81.68, a P/E/G ratio of 26.68 and a beta of 0.48. nCino has a 52-week low of $21.26 and a 52-week high of $37.48. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NCNO. Morgan Stanley upped their target price on shares of nCino from $27.00 to $30.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 27th. William Blair restated an "outperform" rating on shares of nCino in a research note on Wednesday, March 27th. Robert W. Baird upped their target price on shares of nCino from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Wednesday, March 27th. Piper Sandler reiterated an "overweight" rating and issued a $42.00 price objective on shares of nCino in a research note on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods started coverage on shares of nCino in a research note on Tuesday, April 9th. They issued an "outperform" rating and a $41.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.91.

Insider Transactions at nCino

In related news, CFO Gregory Orenstein sold 2,410 shares of the company's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $34.41, for a total value of $82,928.10. Following the transaction, the chief financial officer now owns 295,246 shares in the company, valued at approximately $10,159,414.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other nCino news, Director Insight Holdings Group, Llc sold 1,031,659 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $35.20, for a total transaction of $36,314,396.80. Following the transaction, the director now owns 545,039 shares in the company, valued at approximately $19,185,372.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory Orenstein sold 2,410 shares of the company's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $34.41, for a total transaction of $82,928.10. Following the transaction, the chief financial officer now owns 295,246 shares in the company, valued at approximately $10,159,414.86. The disclosure for this sale can be found here. Insiders have sold 1,105,300 shares of company stock valued at $38,835,333 in the last three months. 38.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nCino

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming increased its holdings in nCino by 56.8% in the 4th quarter. State of Wyoming now owns 1,350 shares of the company's stock worth $36,000 after acquiring an additional 489 shares in the last quarter. UBS Group AG grew its holdings in nCino by 218.7% during the 3rd 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 in the last quarter. Advisors Asset Management Inc. grew its holdings in nCino by 47.9% during the 1st 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 in the last quarter. PNC Financial Services Group Inc. grew its holdings in nCino by 643.3% during the 3rd 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 in the last quarter. Finally, Comerica Bank purchased a new stake in nCino during the 2nd quarter valued at approximately $1,070,000. 94.76% of the stock is 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, 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.