Edgestream Partners L.P. Raises Holdings in nCino, Inc. (NASDAQ:NCNO)

Edgestream Partners L.P. boosted its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 145.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,318 shares of the company's stock after acquiring an additional 46,375 shares during the quarter. Edgestream Partners L.P. owned 0.07% of nCino worth $2,474,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, insider Sean Desmond sold 30,000 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the sale, the insider now directly owns 341,511 shares in the company, valued at $11,874,337.47. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NCNO shares. Stephens reissued an "equal weight" rating and issued a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Raymond James raised nCino from a "market perform" rating to an "outperform" rating and set a $38.00 price target on the stock in a research note on Tuesday, September 3rd. William Blair restated an "outperform" rating on shares of nCino in a report on Wednesday, August 28th. Needham & Company LLC lowered their price objective on shares of nCino from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, August 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.83.

nCino Trading Down 0.1 %

NCNO traded down $0.05 during midday trading on Tuesday, reaching $41.50. 1,160,175 shares of the company were exchanged, compared to its average volume of 1,063,464. nCino, Inc. has a one year low of $28.00 and a one year high of $43.20. The company's fifty day moving average price is $37.12 and its 200 day moving average price 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 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.