The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ncino Inc. shares valued at $27,875 were sold by Sellers Jeanette on Feb 07 ’24. At $31.18 per share, Sellers Jeanette sold 894 shares. The insider’s holdings dropped to 20,770 shares worth approximately $0.75 million following the completion of this transaction.
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Also, Naude Pierre sold 5,526 shares, netting a total of over 171,295 in proceeds. Following the sale of shares at $31.00 each, the insider now holds 1,013,015 shares.
Before that, Glover Joshua L had sold 1,898 shares from its account. In a trade valued at $58,834, the President & Chief Rev Officer traded Ncino Inc. shares for $31.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,898 shares, worth approximately $13.09 million.
As published in a research note from Morgan Stanley on March 15, 2024, Ncino Inc. [NCNO] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $27 from $24. Analysts at Piper Sandler upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early January. As of October 02, 2023, Stephens has decreased its “an Overweight” rating to a “an Equal-weight” for NCNO. Earlier on September 20, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for NCNO stock which previously was a “an Equal-weight”.
Analyzing NCNO Stock Performance
During the last five days, there has been a surge of approximately 18.48%. Over the course of the year, Ncino Inc. shares have jumped approximately 6.75%. Shares of the company reached a 52-week high of $36.65 on 03/27/24 and a 52-week low of $28.09 on 03/06/24. A 50-day SMA is recorded $30.78, while a 200-day SMA reached $30.51. Nevertheless, trading volume fell to 7.72 million shares from 1.15 million shares the previous day.
Support And Resistance Levels for Ncino Inc. (NCNO)
According to the 24-hour chart, there is a support level at 34.40, which, if violated, would cause prices to drop to 32.91. In the upper region, resistance lies at 37.02. The next price resistance is at 38.15. RSI (Relative Strength Index) is 78.65 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.73, which suggests the price will increase in the coming days. Percent R is at 9.82%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Ncino Inc. subject to short interest?
Stocks of Ncino Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.41 million shares to 4.53 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.12 million shares. A jump of 9.05% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.91 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.91.
