Jennison Associates LLC Buys New Shares in nCino, Inc. (NASDAQ:NCNO)

Jennison Associates LLC purchased a new position in shares of nCino, Inc. (NASDAQ:NCNO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 276,461 shares of the company’s stock, valued at approximately $8,733,000. Jennison Associates LLC owned 0.24% of nCino as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bamco Inc. NY boosted its position in nCino by 83.7% in the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after buying an additional 421,500 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in nCino during the 2nd quarter valued at approximately $3,530,000. Select Equity Group L.P. boosted its holdings in shares of nCino by 182.0% in the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after acquiring an additional 16,416 shares during the last quarter. Vanderbilt University increased its stake in shares of nCino by 192.3% in the third quarter. Vanderbilt University now owns 140,571 shares of the company’s stock worth $4,441,000 after acquiring an additional 92,481 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of nCino by 18.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 454,249 shares of the company’s stock worth $16,980,000 after purchasing an additional 71,744 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NCNO shares. JMP Securities reissued a “market outperform” rating and issued a $43.00 price target on shares of nCino in a report on Wednesday, August 28th. Stephens reiterated an “equal weight” rating and set a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC cut their target price on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Tuesday, September 3rd. Finally, Truist Financial restated a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.82.

nCino Trading Up 2.4 %

Shares of NCNO opened at $41.42 on Friday. nCino, Inc. has a twelve month low of $27.47 and a twelve month high of $43.20. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $4.79 billion, a P/E ratio of -153.41, a PEG ratio of 33.21 and a beta of 0.55. The firm’s 50-day moving average is $35.70 and its two-hundred day moving average is $32.97.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. On average, research analysts predict that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at nCino

In related news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the transaction, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. The trade was a 4.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares in the company, valued at approximately $9,705,064.60. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,235,582 shares of company stock valued at $117,618,559 in the last 90 days. 28.40% of the stock is currently owned by insiders.

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.