Franklin Resources Inc. grew its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 46.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,092,862 shares of the company's stock after purchasing an additional 344,269 shares during the quarter. Franklin Resources Inc. owned approximately 0.95% of nCino worth $38,327,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Crewe Advisors LLC bought a new stake in shares of nCino during the 2nd quarter valued at $26,000. Asset Management One Co. Ltd. grew its stake 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 purchasing an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in nCino by 97.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company's stock valued at $87,000 after purchasing an additional 1,358 shares during the last quarter. West Tower Group LLC bought a new stake in nCino in the third quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in nCino in the third quarter valued at about $152,000. Institutional investors and hedge funds own 94.76% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently commented on NCNO shares. Truist Financial reaffirmed a "buy" rating and issued a $44.00 price target (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Raymond James raised shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 target price for the company in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a research report on Monday, December 2nd. William Blair restated an "outperform" rating on shares of nCino in a research report on Thursday, December 5th. Finally, Barclays lifted their target price on nCino from $34.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, nCino presently has an average rating of "Moderate Buy" and a consensus price target of $42.50.
View Our Latest Stock Report on nCino
nCino Stock Down 2.9 %
NASDAQ NCNO traded down $1.02 during trading on Wednesday, hitting $34.38. The stock had a trading volume of 6,102,965 shares, compared to its average volume of 1,121,365. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company's 50-day moving average price is $38.61 and its two-hundred day moving average price is $33.95. The company has a market capitalization of $3.98 billion, a PE ratio of -202.22, a P/E/G ratio of 16.82 and a beta of 0.59.
Insider Transactions at nCino
In other news, Director Jeff Horing sold 70,673 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $36.11, for a total transaction of $2,552,002.03. Following the sale, the director now owns 8,987,625 shares in the company, valued at $324,543,138.75. This represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Gregory Orenstein sold 3,885 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly owns 276,892 shares of the company's stock, valued at $9,705,064.60. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,944,079 shares of company stock valued at $180,523,026 over the last 90 days. 28.40% of the stock is owned by corporate insiders.
nCino Profile
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Free Report)
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.
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