Thrivent Financial for Lutherans purchased a new stake in nCino, Inc. (NASDAQ:NCNO - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 21,789 shares of the company's stock, valued at approximately $689,000.
A number of other institutional investors also recently made changes to their positions in the company. Simplicity Wealth LLC acquired a new stake in nCino in the 2nd quarter worth about $3,530,000. Select Equity Group L.P. raised its position in shares of nCino by 182.0% in the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company's stock valued at $800,000 after buying an additional 16,416 shares in the last quarter. Vanderbilt University grew its position in nCino by 192.3% during the third quarter. Vanderbilt University now owns 140,571 shares of the company's stock worth $4,441,000 after buying an additional 92,481 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in nCino during the 3rd quarter worth $745,000. Finally, Raymond James & Associates raised its holdings in nCino by 25.1% in the 3rd quarter. Raymond James & Associates now owns 504,734 shares of the company's stock valued at $15,945,000 after acquiring an additional 101,305 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
Analysts Set New Price Targets
NCNO has been the topic of several analyst reports. Macquarie reissued an "outperform" rating and set a $40.00 target price on shares of nCino in a report on Wednesday, October 23rd. JMP Securities restated a "market outperform" rating and set a $43.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Barclays raised their target price 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 restated an "outperform" rating on shares of nCino in a research report 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 target on the stock in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.83.
Check Out Our Latest Research Report on NCNO
nCino Price Performance
Shares of NASDAQ:NCNO opened at $41.50 on Wednesday. The company has a market capitalization of $4.80 billion, a P/E ratio of -153.70, a price-to-earnings-growth ratio of 34.46 and a beta of 0.59. The company's 50-day moving average is $37.12 and its 200 day moving average is $33.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $43.20.
Insiders Place Their Bets
In related news, insider Sean Desmond sold 30,000 shares of the company's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the sale, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the business'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 sale, the chief financial officer now directly owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 1.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,235,029 shares of company stock valued at $117,599,204. Company insiders own 28.40% of the company's stock.
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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