ETF Managers Group LLC purchased a new stake in shares of nCino, Inc. (NASDAQ:NCNO – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,210 shares of the company’s stock, valued at approximately $154,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Insight Holdings Group LLC lifted its stake in shares of nCino by 25.4% in the 4th quarter. Insight Holdings Group LLC now owns 39,123,014 shares of the company’s stock valued at $1,034,412,000 after purchasing an additional 7,912,118 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of nCino by 19.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,996,554 shares of the company’s stock valued at $238,653,000 after purchasing an additional 1,143,370 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of nCino by 32.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,774,524 shares of the company’s stock valued at $196,969,000 after purchasing an additional 1,430,585 shares during the last quarter. BlackRock Inc. lifted its stake in shares of nCino by 29.4% in the 3rd quarter. BlackRock Inc. now owns 3,095,956 shares of the company’s stock valued at $105,602,000 after purchasing an additional 704,230 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of nCino by 32.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,195,420 shares of the company’s stock valued at $58,047,000 after purchasing an additional 540,272 shares during the last quarter. 94.53% of the stock is owned by institutional investors.
nCino Trading Down 0.4 %
NCNO opened at $30.12 on Friday. The stock’s fifty day moving average is $25.84 and its two-hundred day moving average is $25.98. The company has a market capitalization of $3.38 billion, a P/E ratio of -40.16 and a beta of 0.33. nCino, Inc. has a 52 week low of $19.58 and a 52 week high of $39.83. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.05.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on NCNO shares. Piper Jaffray Companies lowered nCino from an “overweight” rating to a “neutral” rating in a research note on Tuesday, March 14th. 888 reissued a “reiterates” rating on shares of nCino in a research note on Thursday, June 1st. Truist Financial decreased their price target on nCino from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, March 29th. Piper Sandler reissued a “neutral” rating and set a $22.00 price target on shares of nCino in a research note on Wednesday, March 29th. Finally, Barclays decreased their price target on nCino from $26.00 to $24.00 in a research note on Thursday, June 1st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.
Insider Activity
In other news, insider Joshua L. Glover sold 72,851 shares of nCino stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $23.94, for a total value of $1,744,052.94. Following the transaction, the insider now directly owns 320,373 shares in the company, valued at approximately $7,669,729.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Pierre Naude sold 11,031 shares of the firm’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $24.11, for a total value of $265,957.41. Following the completion of the sale, the chief executive officer now owns 871,887 shares of the company’s stock, valued at approximately $21,021,195.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joshua L. Glover sold 72,851 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $23.94, for a total value of $1,744,052.94. Following the completion of the sale, the insider now directly owns 320,373 shares of the company’s stock, valued at approximately $7,669,729.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,779 shares of company stock worth $2,705,454. 38.20% of the stock is currently owned by company insiders.
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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.
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