nCino, Inc. (NASDAQ:NCNO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of nCino, Inc. (NASDAQ:NCNO) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.25.

A number of research firms have issued reports on NCNO. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a report on Tuesday, September 3rd. Piper Sandler reiterated an “overweight” rating and set a $38.00 price target on shares of nCino in a research note on Wednesday, August 28th. Truist Financial restated a “buy” rating and issued a $44.00 price objective (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Finally, Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of nCino in a research report on Wednesday, August 28th.

Insider Transactions at nCino

In other nCino news, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. The trade was a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the transaction, the insider now directly owns 341,511 shares of the company’s stock, valued at $11,874,337.47. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,235,029 shares of company stock valued at $117,599,204 over the last 90 days. Company insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Several large investors have recently made changes to their positions in the company. Long Path Partners LP grew its holdings in nCino by 151.1% during the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $81,460,000 after buying an additional 1,558,529 shares in the last quarter. ShawSpring Partners LLC boosted its position in shares of nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after acquiring an additional 1,424,349 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of nCino in the second quarter valued at $41,805,000. Senator Investment Group LP bought a new stake in nCino in the second quarter worth $40,885,000. Finally, Millennium Management LLC raised its stake in nCino by 438.3% during the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock valued at $45,673,000 after purchasing an additional 1,182,452 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Stock Performance

Shares of NCNO opened at $41.99 on Monday. The firm has a market capitalization of $4.85 billion, a P/E ratio of -155.52, a PEG ratio of 34.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. nCino has a one year low of $27.47 and a one year high of $43.20. The business has a fifty day moving average of $36.90 and a 200 day moving average of $33.37.

nCino Company 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.