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 $175,784 were sold by RUH WILLIAM J on Apr 09 ’24. At $35.16 per share, RUH WILLIAM J sold 5,000 shares. The insider’s holdings dropped to 246,201 shares worth approximately $8.22 million following the completion of this transaction.
Also, Sellers Jeanette sold 563 shares, netting a total of over 19,947 in proceeds. Following the sale of shares at $35.43 each, the insider now holds 30,392 shares.
Before that, Naude Pierre had sold 10,924 shares from its account. In a trade valued at $375,928, the CEO traded Ncino Inc. shares for $34.41 each. Upon closing the transaction, the insider’s holdings decreased to 10,924 shares, worth approximately $38.69 million.
As published in their initiating research note from Keefe Bruyette on April 09, 2024, Ncino Inc. [NCNO] has been an Outperform and the price target has been revised to $41. Analysts at Morgan Stanley upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid March. As of January 02, 2024, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for NCNO. Earlier on October 02, 2023, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for NCNO stock which previously was a “an Overweight”.
Analyzing NCNO Stock Performance
During the last five days, there has been a drop of approximately -2.17%. Over the course of the year, Ncino Inc. shares have dropped approximately -0.77%. Shares of the company reached a 52-week high of $37.48 on 03/28/24 and a 52-week low of $28.09 on 03/06/24. A 50-day SMA is recorded $31.23, while a 200-day SMA reached $30.85. Nevertheless, trading volume fell to 0.98 million shares from 1.98 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 32.49, which, if violated, would cause prices to drop to 31.62. In the upper region, resistance lies at 34.02. The next price resistance is at 34.68. RSI (Relative Strength Index) is 53.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 54.11%, indicating low price movement. Stochastics %K at holding 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.
