Bamco Inc. NY Raises Stake in nCino, Inc. (NASDAQ:NCNO)

Bamco Inc. NY lifted its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 50.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,499,640 shares of the company's stock after acquiring an additional 499,640 shares during the quarter. Bamco Inc. NY owned approximately 1.30% of nCino worth $47,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Long Path Partners LP increased its holdings in shares of nCino by 151.1% in the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company's stock worth $81,460,000 after purchasing an additional 1,558,529 shares during the last quarter. ShawSpring Partners LLC increased its stake in nCino by 115.9% in the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company's stock worth $83,830,000 after acquiring an additional 1,424,349 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of nCino during the 2nd quarter worth approximately $41,805,000. Senator Investment Group LP bought a new position in shares of nCino during the 2nd quarter valued at approximately $40,885,000. Finally, Millennium Management LLC boosted its position in shares of nCino by 438.3% during the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company's stock valued at $45,673,000 after acquiring an additional 1,182,452 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Trading Down 0.1 %

Shares of NASDAQ NCNO traded down $0.05 during mid-day trading on Tuesday, reaching $41.50. 1,160,175 shares of the company's stock were exchanged, compared to its average volume of 1,063,464. The company's 50-day moving average is $37.12 and its 200-day moving average is $33.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino, Inc. has a 52-week low of $28.00 and a 52-week high of $43.20.

Analyst Ratings Changes

Several research analysts recently commented on NCNO shares. Stephens reiterated an "equal weight" rating and issued a $35.00 price target on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC dropped their target price on nCino from $42.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, August 28th. JMP Securities restated a "market outperform" rating and set a $43.00 price target on shares of nCino in a report on Wednesday, August 28th. Keefe, Bruyette & Woods lifted their price objective on shares of nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Truist Financial reissued a "buy" rating and issued a $44.00 target price (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, nCino has an average rating of "Moderate Buy" and an average price target of $40.83.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 3,885 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the sale, the chief financial officer now owns 276,892 shares in the company, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares of the company's stock, valued at approximately $8,482,537.50. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,235,029 shares of company stock valued at $117,599,204 in the last three months. 28.40% of the stock is 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.