Asset Management One Co. Ltd. Buys 323 Shares of nCino, Inc. (NASDAQ:NCNO)

Asset Management One Co. Ltd. increased its stake in nCino, Inc. (NASDAQ:NCNO) by 16.5% during the fourth quarter, Holdings Channel reports. The firm owned 2,279 shares of the company’s stock after acquiring an additional 323 shares during the period. Asset Management One Co. Ltd.’s holdings in nCino were worth $78,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its position in nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after acquiring an additional 344,269 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in nCino in the third quarter valued at about $689,000. Verition Fund Management LLC bought a new position in nCino in the third quarter valued at about $594,000. Charles Schwab Investment Management Inc. grew its position in nCino by 51.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after acquiring an additional 189,283 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of nCino by 63.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock worth $5,452,000 after purchasing an additional 66,869 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley cut their price objective on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Needham & Company LLC boosted their price target on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Piper Sandler restated a “neutral” rating and set a $38.00 price objective on shares of nCino in a report on Thursday, December 5th. Robert W. Baird decreased their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, Stephens boosted their price objective on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and an average price target of $42.50.

nCino Trading Down 2.4 %

Shares of nCino stock opened at $32.06 on Friday. The stock has a fifty day simple moving average of $33.69 and a 200 day simple moving average of $34.60. nCino, Inc. has a 12-month low of $28.09 and a 12-month high of $43.20. The company has a market capitalization of $3.71 billion, a P/E ratio of -188.58, a price-to-earnings-growth ratio of 5.80 and a beta of 0.65. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 4,325 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the transaction, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. This represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Horing sold 450,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $37.27, for a total value of $16,771,500.00. Following the completion of the transaction, the director now owns 12,063,467 shares of the company’s stock, valued at $449,605,415.09. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,270,085 shares of company stock worth $225,838,863. 28.40% of the stock is owned by corporate insiders.

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.