Raymond James & Associates Acquires 101,305 Shares of nCino, Inc. (NASDAQ:NCNO)

Raymond James & Associates lifted its stake in nCino, Inc. (NASDAQ:NCNO - Free Report) by 25.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 504,734 shares of the company's stock after buying an additional 101,305 shares during the quarter. Raymond James & Associates owned approximately 0.44% of nCino worth $15,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NCNO. Crewe Advisors LLC bought a new position in nCino in the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. boosted 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. Covestor Ltd boosted its position in nCino by 29.6% in the 1st quarter. Covestor Ltd now owns 2,736 shares of the company's stock worth $102,000 after purchasing an additional 625 shares in the last quarter. Amalgamated Bank grew its position in nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company's stock valued at $163,000 after buying an additional 1,134 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company's stock valued at $168,000 after purchasing an additional 2,677 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director William J. Ruh sold 10,000 shares of the business's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares of the company's stock, valued at $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other nCino news, Director Jeff Horing sold 1,833,975 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the completion of the transaction, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Ruh sold 10,000 shares of the company'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 completion of the sale, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,102,466 shares of company stock worth $146,370,589 in the last three months. Insiders own 28.40% of the company's stock.

Analysts Set New Price Targets

NCNO has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating and set a $38.00 target price on shares of nCino in a report on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a "neutral" rating to a "buy" rating and raised their price objective for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. 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 note on Monday, October 21st. JMP Securities restated a "market outperform" rating and issued a $43.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, Raymond James raised shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.82.

nCino Stock Down 1.1 %

Shares of nCino stock traded down $0.42 during trading on Friday, hitting $37.83. 898,146 shares of the stock traded hands, compared to its average volume of 1,080,945. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $4.35 billion, a P/E ratio of -122.03, a PEG ratio of 30.64 and a beta of 0.59. The company has a fifty day moving average price of $32.31 and a two-hundred day moving average price of $31.65. nCino, Inc. has a twelve month low of $27.27 and a twelve month high of $38.48.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. Equities research analysts predict that nCino, Inc. will post 0.05 EPS for the current fiscal year.

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.