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

nCino, Inc. (NASDAQ:NCNO) was the target of some unusual options trading on Friday. Traders bought 5,251 call options on the company. This represents an increase of 588% compared to the typical volume of 763 call options.

nCino Trading Up 0.3 %

NCNO opened at $41.99 on Friday. The business’s 50 day moving average price is $36.66 and its 200 day moving average price is $33.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $4.85 billion, a PE ratio of -155.51, a P/E/G ratio of 34.73 and a beta of 0.55. nCino has a one year low of $27.47 and a one year high of $43.20.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. As a group, equities research analysts expect that nCino will post 0.05 EPS for the current year.

Insider Activity

In other news, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the completion of the sale, the director now owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the transaction, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. This represents a 4.23 % 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 three months. 28.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in shares of nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after acquiring an additional 344,269 shares during the period. Synovus Financial Corp purchased a new stake in nCino in the third quarter valued at approximately $656,000. Sanctuary Advisors LLC acquired a new position in nCino during the third quarter worth $189,000. Geode Capital Management LLC boosted its position in shares of nCino by 26.1% during the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock worth $47,951,000 after buying an additional 313,637 shares during the period. Finally, Bullseye Asset Management LLC grew its stake in shares of nCino by 58.5% in the third quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock valued at $4,451,000 after buying an additional 52,000 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NCNO. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Tuesday, September 3rd. Needham & Company LLC reduced their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of nCino in a research report on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Finally, Truist Financial reissued a “buy” rating and issued a $44.00 target price (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

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 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.