nCino (NASDAQ:NCNO) Given New $49.00 Price Target at Keefe, Bruyette & Woods

nCino (NASDAQ:NCNO) had its price objective raised by stock analysts at Keefe, Bruyette & Woods from $41.00 to $49.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 15.65% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Barclays raised their price objective on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, November 25th. Truist Financial reiterated a “buy” rating and issued a $44.00 target price (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. JMP Securities restated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, Macquarie restated an “outperform” rating and set a $40.00 price objective on shares of nCino in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.83.

nCino Trading Up 0.9 %

Shares of NASDAQ:NCNO traded up $0.38 during trading on Monday, reaching $42.37. The stock had a trading volume of 506,122 shares, compared to its average volume of 1,059,117. The firm’s fifty day moving average is $36.90 and its 200 day moving average is $33.38. 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 has a 52 week low of $28.00 and a 52 week high of $43.20. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -156.93, a P/E/G ratio of 34.82 and a beta of 0.55.

Insider Buying and Selling at nCino

In related news, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction dated 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 directly owns 276,892 shares in the company, valued at $9,705,064.60. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff Horing sold 1,356,721 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total transaction of $48,869,090.42. Following the sale, the director now owns 14,656,746 shares of the company’s stock, valued at approximately $527,935,990.92. This represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock valued at $117,599,204 in the last quarter. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

A number of institutional investors have recently made changes to their positions in the stock. Long Path Partners LP boosted its holdings in shares of nCino by 151.1% in the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after buying an additional 1,558,529 shares during the last quarter. ShawSpring Partners LLC lifted its holdings in nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after purchasing an additional 1,424,349 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in nCino during the second quarter valued at approximately $41,805,000. Senator Investment Group LP purchased a new position in nCino during the second quarter valued at approximately $40,885,000. Finally, Millennium Management LLC lifted its holdings in nCino by 438.3% during the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock valued at $45,673,000 after purchasing an additional 1,182,452 shares in the last quarter. Hedge funds and other 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.