US Bancorp DE Sells 4,068 Shares of nCino, Inc. (NASDAQ:NCNO)

US Bancorp DE lessened its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,913 shares of the company’s stock after selling 4,068 shares during the quarter. US Bancorp DE’s holdings in nCino were worth $1,441,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NCNO. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 21.1% during the third 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 during the period. Victory Capital Management Inc. boosted its stake in shares of nCino by 15.0% during the third quarter. Victory Capital Management Inc. now owns 11,784 shares of the company’s stock valued at $372,000 after purchasing an additional 1,536 shares during the period. Natixis Advisors LLC boosted its stake in shares of nCino by 5.9% during the third quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock valued at $465,000 after purchasing an additional 822 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of nCino during the third quarter valued at approximately $689,000. Finally, Quest Partners LLC boosted its stake in shares of nCino by 30.4% during the third quarter. Quest Partners LLC now owns 25,231 shares of the company’s stock valued at $797,000 after purchasing an additional 5,879 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Gregory Orenstein sold 5,148 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares in the company, valued at $8,858,854.40. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the transaction, the insider now owns 145,953 shares of the company’s stock, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,270,085 shares of company stock worth $225,838,863. 28.40% of the stock is owned by corporate insiders.

nCino Price Performance

NCNO opened at $30.53 on Friday. The stock has a fifty day simple moving average of $32.81 and a two-hundred day simple moving average of $34.46. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -179.58, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino, Inc. has a 12-month low of $28.50 and a 12-month high of $43.20.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Macquarie raised their price target on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Morgan Stanley dropped their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. UBS Group initiated coverage on nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 price target for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.