Glenmede Trust Co. NA Makes New Investment in nCino, Inc. (NASDAQ:NCNO)

Glenmede Trust Co. NA purchased a new stake in nCino, Inc. (NASDAQ:NCNO - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,362 shares of the company's stock, valued at approximately $485,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Crewe Advisors LLC purchased a new position in nCino in the second quarter valued at $26,000. Asset Management One Co. Ltd. boosted its position in shares of nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company's stock worth $62,000 after acquiring an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company's stock valued at $87,000 after acquiring an additional 1,358 shares during the last quarter. West Tower Group LLC acquired a new stake in shares of nCino during the 3rd quarter worth about $126,000. Finally, Amalgamated Bank raised its position in shares of nCino by 28.1% during the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company's stock worth $163,000 after acquiring an additional 1,134 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

nCino Stock Performance

Shares of nCino stock traded down $5.22 during trading hours on Thursday, hitting $37.28. 4,948,027 shares of the company were exchanged, compared to its average volume of 1,084,616. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average of $37.59 and a 200-day moving average of $33.57. nCino, Inc. has a 1 year low of $28.09 and a 1 year high of $43.20. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -135.37, a P/E/G ratio of 34.42 and a beta of 0.59.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NCNO. Barclays upped their price target on nCino from $34.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, November 25th. William Blair reaffirmed an "outperform" rating on shares of nCino in a research report on Thursday. Morgan Stanley boosted their price target on shares of nCino from $30.00 to $41.00 and gave the company an "equal weight" rating in a research report on Monday. Piper Sandler restated a "neutral" rating and issued a $38.00 price objective on shares of nCino in a research note on Thursday. Finally, Truist Financial reiterated a "buy" rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.31.

Insiders Place Their Bets

In related news, Director William J. Ruh sold 10,000 shares of the business's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the sale, the director now owns 226,201 shares of the company's stock, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares of the company's stock, valued at $9,705,064.60. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is owned by insiders.

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.