nCino (NASDAQ:NCNO) Sets New 12-Month Low – Time to Sell?

nCino Inc. (NASDAQ:NCNO)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $13.80 and last traded at $14.0260, with a volume of 1429639 shares traded. The stock had previously closed at $15.00.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays decreased their target price on nCino from $34.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday. Piper Sandler lowered their price objective on nCino from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, December 4th. Truist Financial lowered their price target on shares of nCino from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. UBS Group reaffirmed a “buy” rating and issued a $36.00 price objective on shares of nCino in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. reduced their target price on shares of nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.47.

nCino Trading Down 6.7%

The firm has a market capitalization of $1.60 billion, a P/E ratio of -77.72, a PEG ratio of 2.85 and a beta of 0.59. The business’s 50 day moving average is $17.88 and its two-hundred day moving average is $23.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24.

nCino declared that its board has approved a stock buyback plan on Monday, December 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at nCino

In other news, SVP Jeanette Sellers sold 2,182 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $18.26, for a total value of $39,843.32. Following the completion of the sale, the senior vice president directly owned 43,219 shares of the company’s stock, valued at approximately $789,178.94. This represents a 4.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pierre Naude sold 24,273 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $453,419.64. Following the completion of the transaction, the director owned 1,166,823 shares of the company’s stock, valued at $21,796,253.64. This trade represents a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 69,803 shares of company stock worth $1,345,743 in the last three months. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On nCino

Hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC bought a new stake in shares of nCino in the 4th quarter worth $3,982,000. Rockefeller Capital Management L.P. boosted its stake in nCino by 66.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 383,812 shares of the company’s stock valued at $9,841,000 after buying an additional 153,162 shares in the last quarter. Alpine Global Management LLC acquired a new position in nCino during the fourth quarter worth about $206,000. Invesco Ltd. grew its holdings in nCino by 13.6% during the fourth quarter. Invesco Ltd. now owns 168,339 shares of the company’s stock worth $4,316,000 after acquiring an additional 20,102 shares during the period. Finally, XTX Topco Ltd raised its position in nCino by 68.1% in the fourth quarter. XTX Topco Ltd now owns 82,508 shares of the company’s stock worth $2,116,000 after acquiring an additional 33,418 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.