nCino, Inc. (NASDAQ:NCNO) Position Increased by Fmr LLC

Fmr LLC raised its stake in nCino, Inc. (NASDAQ:NCNO) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,237,227 shares of the company’s stock after buying an additional 29,501 shares during the period. Fmr LLC owned approximately 1.07% of nCino worth $39,084,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Thrivent Financial for Lutherans acquired a new position in shares of nCino in the 3rd quarter worth $689,000. Select Equity Group L.P. increased its stake in nCino by 182.0% in the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after purchasing an additional 16,416 shares in the last quarter. Vanderbilt University raised its holdings in nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock worth $4,441,000 after buying an additional 92,481 shares during the period. Lecap Asset Management Ltd. purchased a new stake in nCino during the third quarter valued at about $745,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of nCino by 63.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock worth $5,452,000 after buying an additional 66,869 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Performance

Shares of NCNO opened at $37.41 on Monday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -220.05, a price-to-earnings-growth ratio of 35.24 and a beta of 0.59. The company’s fifty day moving average is $37.84 and its 200-day moving average is $33.67. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20.

Insider Buying and Selling at nCino

In other news, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction 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. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,235,029 shares of company stock worth $117,599,204 over the last three months. Corporate insiders own 28.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on NCNO shares. Needham & Company LLC boosted their target price on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday. Barclays upped their price target on nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods raised their price objective on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Macquarie upped their target price on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler reissued a “neutral” rating and issued a $38.00 price target on shares of nCino in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.38.

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.