State of New Jersey Common Pension Fund D Makes New Investment in nCino, Inc. (NASDAQ:NCNO)

State of New Jersey Common Pension Fund D acquired a new position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 52,414 shares of the company's stock, valued at approximately $1,760,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NCNO. Conestoga Capital Advisors LLC bought a new position in shares of nCino during the 4th quarter worth about $70,256,000. ShawSpring Partners LLC increased its holdings in shares of nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company's stock worth $83,830,000 after purchasing an additional 1,424,349 shares during the period. Long Path Partners LP increased its holdings in shares of nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company's stock worth $117,559,000 after purchasing an additional 1,131,271 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in shares of nCino by 65.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company's stock worth $66,341,000 after purchasing an additional 828,124 shares during the period. Finally, American Capital Management Inc. increased its holdings in shares of nCino by 348.9% during the 3rd quarter. American Capital Management Inc. now owns 1,029,725 shares of the company's stock worth $32,529,000 after purchasing an additional 800,317 shares during the period. Institutional investors own 94.76% of the company's stock.

Insider Activity

In other nCino news, CEO Sean Desmond sold 5,034 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the transaction, the chief executive officer now directly owns 306,477 shares of the company's stock, valued at approximately $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Horing sold 450,000 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the completion of the transaction, the director now directly owns 12,063,467 shares in the company, valued at approximately $449,605,415.09. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,270,085 shares of company stock valued at $225,838,863 over the last three months. 28.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NCNO. Needham & Company LLC boosted their price objective on shares of nCino from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Morgan Stanley lowered their target price 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. KeyCorp reissued a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Robert W. Baird lowered their target price on shares of nCino from $43.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, December 5th. Finally, William Blair reissued an "outperform" rating on shares of nCino in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.50.

nCino Price Performance

Shares of NCNO traded up $0.55 during mid-day trading on Friday, hitting $31.31. 1,269,584 shares of the company traded hands, compared to its average volume of 1,099,733. nCino, Inc. has a one year low of $28.09 and a one year high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $33.30 and a 200 day moving average of $34.58. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -184.17, a PEG ratio of 5.77 and a beta of 0.65.

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.