nCino (NASDAQ:NCNO) Upgraded at Barclays

Barclays upgraded shares of nCino (NASDAQ:NCNO) from an equal weight rating to an overweight rating in a report published on Monday, Marketbeat.com reports. The firm currently has $44.00 price target on the stock.

Several other equities analysts have also weighed in on NCNO. Piper Sandler reissued a “neutral” rating and set a $38.00 price objective on shares of nCino in a report on Thursday, December 5th. Macquarie increased their price target on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird lowered their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Keefe, Bruyette & Woods increased their target price on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, William Blair reissued an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, nCino currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Stock Down 0.1 %

NCNO opened at $33.51 on Monday. nCino has a twelve month low of $28.09 and a twelve month high of $43.20. The company’s 50-day moving average price is $37.91 and its two-hundred day moving average price is $34.32. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of -197.11, a PEG ratio of 16.39 and a beta of 0.64. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insider Transactions at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at $9,705,064.60. The trade was a 1.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the sale, the director now owns 4,458,591 shares in the company, valued at approximately $156,050,685. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,473,113 shares of company stock valued at $342,394,835. 28.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of nCino by 15.6% in the 2nd quarter. Principal Financial Group Inc. now owns 6,792 shares of the company’s stock worth $214,000 after purchasing an additional 915 shares in the last quarter. Natixis Advisors LLC boosted its stake in nCino by 30.6% in the second quarter. Natixis Advisors LLC now owns 13,889 shares of the company’s stock worth $437,000 after buying an additional 3,257 shares in the last quarter. Rhumbline Advisers grew its position in nCino by 19.9% during the second quarter. Rhumbline Advisers now owns 92,426 shares of the company’s stock valued at $2,907,000 after acquiring an additional 15,362 shares during the last quarter. Victory Capital Management Inc. grew its position in nCino by 20.9% during the second quarter. Victory Capital Management Inc. now owns 10,248 shares of the company’s stock valued at $322,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of nCino by 25.7% during the second quarter. Arizona State Retirement System now owns 17,586 shares of the company’s stock worth $553,000 after acquiring an additional 3,595 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

About nCino

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.