State of New Jersey Common Pension Fund D Makes New Investment in nCino, Inc. (NASDAQ:NCNO)

State of New Jersey Common Pension Fund D acquired a new stake in shares of nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 52,414 shares of the company’s stock, valued at approximately $1,760,000.

A number of other hedge funds also recently made changes to their positions in NCNO. Fifth Third Bancorp bought a new stake in shares of nCino in the 4th quarter worth approximately $34,000. Hilltop National Bank purchased a new position in shares of nCino in the fourth quarter worth $37,000. Asset Management One Co. Ltd. raised its holdings 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 buying an additional 341 shares during the last quarter. West Tower Group LLC purchased a new stake in nCino during the 3rd quarter valued at $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in nCino in the 3rd quarter worth $152,000. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp restated a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. UBS Group initiated coverage on shares of nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 price objective for the company. Morgan Stanley cut their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Macquarie boosted their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Robert W. Baird lowered their price objective on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Trading Down 0.5 %

Shares of NASDAQ:NCNO opened at $31.26 on Wednesday. The business’s 50 day moving average price is $33.52 and its 200-day moving average price is $34.64. nCino, Inc. has a 1 year low of $28.09 and a 1 year high of $43.20. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -183.87, a price-to-earnings-growth ratio of 5.77 and a beta of 0.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

Insider Buying and Selling

In other news, insider April Rieger sold 4,325 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeff Horing sold 450,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.27, for a total value of $16,771,500.00. Following the sale, the director now directly owns 12,063,467 shares of the company’s stock, valued at approximately $449,605,415.09. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,270,085 shares of company stock worth $225,838,863. 28.40% of the stock is owned by corporate insiders.

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.