nCino, Inc. (NASDAQ:NCNO) Position Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 18.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,467 shares of the company’s stock after buying an additional 3,233 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in nCino were worth $644,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new stake in nCino in the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. bought a new position in nCino during the 1st quarter valued at $52,000. Covestor Ltd boosted its stake in nCino by 29.6% during the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after purchasing an additional 625 shares in the last quarter. Amalgamated Bank increased its position in shares of nCino by 28.1% during the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock valued at $163,000 after purchasing an additional 1,134 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after buying an additional 2,677 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at nCino

In other news, Director Jeff Horing sold 800,002 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the completion of the transaction, the director now directly owns 16,649,942 shares in the company, valued at $552,112,076.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeff Horing sold 800,002 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the transaction, the director now owns 16,649,942 shares of the company’s stock, valued at approximately $552,112,076.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Insight Holdings Group, Llc sold 16,882 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.11, for a total transaction of $558,963.02. Following the transaction, the director now owns 1,381,929 shares of the company’s stock, valued at approximately $45,755,669.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,154,815 shares of company stock valued at $71,774,188 in the last 90 days. 28.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NCNO shares. JMP Securities reiterated a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $37.00 price target on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and boosted their target price for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.18.

nCino Stock Down 0.1 %

Shares of nCino stock opened at $35.05 on Wednesday. nCino, Inc. has a 12-month low of $27.13 and a 12-month high of $37.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average price of $31.60 and a two-hundred day moving average price of $31.51. The stock has a market capitalization of $4.03 billion, a P/E ratio of -113.06, a PEG ratio of 26.59 and a beta of 0.59.

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

nCino 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 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.