Charles Schwab Investment Management Inc. Buys 189,283 Shares of nCino, Inc. (NASDAQ:NCNO)

Charles Schwab Investment Management Inc. lifted its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 51.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 556,757 shares of the company's stock after acquiring an additional 189,283 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.48% of nCino worth $17,588,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NCNO. Long Path Partners LP grew its holdings in shares of nCino by 151.1% during the 2nd 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 in the last quarter. Brown Brothers Harriman & Co. bought a new position in nCino in the 2nd quarter valued at about $41,805,000. Senator Investment Group LP acquired a new position in shares of nCino in the 2nd quarter valued at approximately $40,885,000. ShawSpring Partners LLC bought a new stake in shares of nCino during the 2nd quarter worth approximately $38,663,000. 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 worth $45,673,000 after acquiring an additional 1,182,452 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Activity at nCino

In related news, insider Sean Desmond sold 30,000 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the transaction, the insider now owns 341,511 shares in the company, valued at $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares of the company's stock, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,235,029 shares of company stock worth $117,599,204 over the last ninety days. Insiders own 28.40% of the company's stock.

nCino Trading Up 0.3 %

Shares of NASDAQ NCNO traded up $0.13 during trading on Friday, reaching $37.41. The company had a trading volume of 1,769,303 shares, compared to its average volume of 925,234. The stock has a market cap of $4.32 billion, a P/E ratio of -220.05, a PEG ratio of 35.24 and a beta of 0.59. The company's fifty day moving average price is $37.84 and its 200-day moving average price is $33.65. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NCNO. JMP Securities restated a "market outperform" rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Needham & Company LLC raised their price objective on nCino from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday. Truist Financial reissued a "buy" rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Finally, Piper Sandler reissued a "neutral" rating and issued a $38.00 price objective on shares of nCino in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.38.

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.