Charles Schwab Investment Management Inc. Boosts Holdings in nCino, Inc. (NASDAQ:NCNO)

Charles Schwab Investment Management Inc. raised its holdings in nCino, Inc. (NASDAQ:NCNO) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 566,627 shares of the company’s stock after purchasing an additional 9,870 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.49% of nCino worth $19,027,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new stake in shares of nCino during the 4th quarter worth about $34,000. Hilltop National Bank purchased a new stake in shares of nCino during the 4th quarter worth about $37,000. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after acquiring an additional 323 shares in the last quarter. West Tower Group LLC purchased a new stake in shares of nCino during the 3rd quarter worth about $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of nCino during the 3rd quarter worth about $152,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NCNO. Morgan Stanley lowered 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. KeyCorp reissued a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Macquarie increased their target price on shares of nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. UBS Group began coverage on shares of nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, Scotiabank raised their price target on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Trading Up 0.9 %

NCNO opened at $28.77 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50 day simple moving average is $31.99 and its two-hundred day simple moving average is $34.22. nCino, Inc. has a 1-year low of $27.29 and a 1-year high of $43.20. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -169.23, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66.

Insiders Place Their Bets

In other news, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the sale, the director now owns 4,458,591 shares of the company’s stock, valued at $156,050,685. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,877 shares of company stock valued at $2,963,893 in the last ninety days. 28.40% of the stock is currently owned by corporate insiders.

nCino 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.