nCino, Inc. (NASDAQ:NCNO) Stake Raised by Bullseye Asset Management LLC

Bullseye Asset Management LLC lifted its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 58.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 140,878 shares of the company's stock after acquiring an additional 52,000 shares during the quarter. nCino accounts for about 2.1% of Bullseye Asset Management LLC's investment portfolio, making the stock its 21st biggest position. Bullseye Asset Management LLC owned approximately 0.12% of nCino worth $4,451,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Crewe Advisors LLC purchased a new stake in nCino during the 2nd quarter worth approximately $26,000. Asset Management One Co. Ltd. grew its position 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 worth $62,000 after buying an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of nCino by 97.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company's stock worth $87,000 after buying an additional 1,358 shares during the last quarter. West Tower Group LLC acquired a new stake in nCino in the third quarter valued at $126,000. Finally, Northwest & Ethical Investments L.P. bought a new position in nCino during the 3rd quarter valued at $152,000. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Stock Performance

Shares of NCNO stock traded down $1.12 during trading hours on Tuesday, reaching $36.00. The stock had a trading volume of 2,393,556 shares, compared to its average volume of 1,095,386. 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 firm has a 50-day simple moving average of $38.05 and a 200-day simple moving average of $33.75. The firm has a market capitalization of $4.17 billion, a PE ratio of -211.76, a price-to-earnings-growth ratio of 28.36 and a beta of 0.59. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NCNO. JMP Securities reissued a "market outperform" rating and issued a $43.00 target price on shares of nCino in a research report on Wednesday, August 28th. Morgan Stanley lowered their price objective on nCino from $41.00 to $39.00 and set an "equal weight" rating for the company in a report on Friday. Piper Sandler reaffirmed a "neutral" rating and set a $38.00 target price on shares of nCino in a report on Thursday, December 5th. Scotiabank lifted their target price on nCino from $36.00 to $46.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods upped their price target on nCino from $41.00 to $49.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.38.

Insider Activity

In other nCino news, Director Jeff Horing sold 1,833,975 shares of the business's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. The trade was a 12.78 % decrease in their position. The transaction 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 stock in a transaction that occurred 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 transaction, the director now owns 226,201 shares of the company's stock, valued at $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. Over the last 90 days, insiders have sold 3,235,029 shares of company stock valued at $117,599,204. Insiders own 28.40% of the company's stock.

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.