Thrivent Financial for Lutherans Acquires Shares of 21,789 nCino, Inc. (NASDAQ:NCNO)

Thrivent Financial for Lutherans purchased a new stake in shares of nCino, Inc. (NASDAQ:NCNO) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 21,789 shares of the company’s stock, valued at approximately $689,000.

Several other large investors have also recently made changes to their positions in the business. Asset Management One Co. Ltd. increased its stake in nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after purchasing an additional 341 shares in the last quarter. Malaga Cove Capital LLC lifted its position in nCino by 3.0% in the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after buying an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of nCino by 3.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after purchasing an additional 508 shares during the last quarter. Precision Wealth Strategies LLC raised its holdings in shares of nCino by 4.5% in the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock valued at $428,000 after purchasing an additional 589 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of nCino during the 2nd quarter worth approximately $26,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 341,511 shares in the company, valued at $11,874,337.47. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,235,029 shares of company stock valued at $117,599,204. Insiders own 28.40% of the company’s stock.

nCino Stock Down 0.1 %

NCNO stock opened at $41.50 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50 day moving average of $37.12 and a two-hundred day moving average of $33.44. nCino, Inc. has a 12 month low of $28.00 and a 12 month high of $43.20.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Truist Financial restated a “buy” rating and set a $44.00 price target (up from $37.00) on shares of nCino in a research report on Monday, October 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC lowered their price target on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.83.

About nCino

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.