one8zero8 LLC Purchases New Stake in nCino, Inc. (NASDAQ:NCNO)

one8zero8 LLC bought a new stake in nCino, Inc. (NASDAQ:NCNO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 78,985 shares of the company's stock, valued at approximately $2,652,000. one8zero8 LLC owned about 0.07% of nCino as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company's stock valued at $38,327,000 after acquiring an additional 344,269 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in nCino during the third quarter valued at $689,000. Verition Fund Management LLC purchased a new stake in nCino in the third quarter valued at $594,000. Charles Schwab Investment Management Inc. grew its position in nCino by 51.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company's stock worth $17,588,000 after purchasing an additional 189,283 shares during the period. Finally, Commerce Bank purchased a new position in shares of nCino during the 3rd quarter valued at about $575,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NCNO. Morgan Stanley lowered their target price on nCino from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Friday, December 6th. Robert W. Baird lowered their price objective on nCino from $43.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, December 5th. Barclays upgraded shares of nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 target price for the company in a research note on Monday, January 6th. Stephens boosted their target price on shares of nCino from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods raised their price target on shares of nCino from $41.00 to $49.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, nCino presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.

Remove Ads

nCino Price Performance

NCNO stock traded up $0.59 during trading on Wednesday, hitting $29.10. The stock had a trading volume of 83,973 shares, compared to its average volume of 1,210,420. nCino, Inc. has a twelve month low of $27.29 and a twelve month high of $43.20. The company's 50-day moving average price is $32.08 and its two-hundred day moving average price is $34.26. 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 stock has a market capitalization of $3.37 billion, a P/E ratio of -171.14, a PEG ratio of 5.77 and a beta of 0.66.

Insider Activity

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

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.