JPMorgan Chase & Co. Has $56.12 Million Holdings in nCino, Inc. (NASDAQ:NCNO)

JPMorgan Chase & Co. reduced its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,776,341 shares of the company's stock after selling 299,935 shares during the quarter. JPMorgan Chase & Co. owned 1.53% of nCino worth $56,115,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company's stock valued at $62,000 after acquiring an additional 341 shares in the last quarter. Malaga Cove Capital LLC raised its stake in shares of nCino by 3.0% in the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company's stock valued at $430,000 after purchasing an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of nCino by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company's stock valued at $459,000 after purchasing an additional 508 shares in the last quarter. Precision Wealth Strategies LLC boosted its position in shares of nCino by 4.5% during the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company's stock worth $428,000 after buying an additional 589 shares during the period. Finally, Natixis Advisors LLC grew its holdings in shares of nCino by 5.9% during the third quarter. Natixis Advisors LLC now owns 14,711 shares of the company's stock worth $465,000 after buying an additional 822 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NCNO. Robert W. Baird reduced their price target on nCino from $43.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, December 5th. Scotiabank increased their target price on shares of nCino from $36.00 to $46.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 4th. Morgan Stanley lowered their price target on shares of nCino from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Friday, December 6th. William Blair reissued an "outperform" rating on shares of nCino in a research report on Thursday, December 5th. Finally, Piper Sandler restated a "neutral" rating and issued a $38.00 price objective on shares of nCino in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $42.50.

Insider Activity

In other news, CFO Gregory Orenstein sold 3,885 shares of the company's stock in a transaction that occurred 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 owns 276,892 shares of the company's stock, valued at approximately $9,705,064.60. This represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 9,418,237 shares of company stock valued at $340,474,175 over the last ninety days. 28.40% of the stock is currently owned by company insiders.

nCino Stock Performance

nCino stock traded up $0.66 during mid-day trading on Friday, hitting $34.07. 663,476 shares of the company's stock traded hands, compared to its average volume of 714,838. 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 $38.19 and a two-hundred day simple moving average of $34.29. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -200.40, a P/E/G ratio of 16.39 and a beta of 0.64.

nCino 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.