nCino, Inc. (NASDAQ:NCNO) Stake Increased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 96.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,072,724 shares of the company’s stock after purchasing an additional 525,605 shares during the period. Clearbridge Investments LLC owned about 0.95% of nCino worth $36,076,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NCNO. Norges Bank bought a new stake in nCino during the fourth quarter valued at $25,336,000. Dimensional Fund Advisors LP grew its position in shares of nCino by 20.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,034,908 shares of the company’s stock worth $34,807,000 after acquiring an additional 177,799 shares during the last quarter. Trust Co of the South bought a new position in shares of nCino during the fourth quarter worth about $4,430,000. Fred Alger Management LLC grew its position in shares of nCino by 6.4% during the third quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock worth $42,582,000 after acquiring an additional 80,556 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of nCino by 85.3% during the third quarter. Envestnet Asset Management Inc. now owns 139,997 shares of the company’s stock worth $4,452,000 after acquiring an additional 64,446 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Trading Down 0.4 %

NASDAQ:NCNO opened at $31.57 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50 day moving average price is $31.61 and its 200 day moving average price is $31.26. nCino, Inc. has a 52 week low of $21.32 and a 52 week high of $37.48.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $123.69 million during the quarter, compared to analysts’ expectations of $124.58 million. nCino had a positive return on equity of 0.31% and a negative net margin of 8.89%. On average, analysts forecast that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Insight Holdings Group, Llc sold 1,031,659 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $35.20, for a total value of $36,314,396.80. Following the completion of the sale, the director now directly owns 545,039 shares of the company’s stock, valued at $19,185,372.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Pamela Kilday sold 1,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.48, for a total value of $36,480.00. Following the completion of the transaction, the director now directly owns 20,930 shares in the company, valued at $763,526.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Insight Holdings Group, Llc sold 1,031,659 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.20, for a total value of $36,314,396.80. Following the transaction, the director now owns 545,039 shares of the company’s stock, valued at $19,185,372.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,114,061 shares of company stock valued at $39,096,813. 28.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on NCNO. Piper Sandler restated an “overweight” rating and set a $42.00 price target on shares of nCino in a research report on Wednesday, March 27th. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Keefe, Bruyette & Woods started coverage on shares of nCino in a report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price target for the company. Morgan Stanley upped their price target on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Finally, Robert W. Baird upped their price target on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.91.

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.