nCino, Inc. (NASDAQ:NCNO) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in nCino, Inc. (NASDAQ:NCNO) by 32.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,536 shares of the company’s stock after acquiring an additional 1,122 shares during the quarter. PNC Financial Services Group Inc.’s holdings in nCino were worth $152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of NCNO. Edgestream Partners L.P. lifted its position in shares of nCino by 49.3% during the 4th quarter. Edgestream Partners L.P. now owns 116,934 shares of the company’s stock valued at $3,927,000 after acquiring an additional 38,616 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of nCino during the fourth quarter worth $39,334,000. Arizona State Retirement System lifted its holdings in shares of nCino by 8.0% during the fourth quarter. Arizona State Retirement System now owns 26,842 shares of the company’s stock valued at $901,000 after purchasing an additional 1,990 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after purchasing an additional 340 shares during the period. Finally, Keybank National Association OH purchased a new position in nCino in the 4th quarter worth about $297,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at nCino

In related news, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean Desmond sold 5,034 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the transaction, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock worth $2,963,893 over the last ninety days. 28.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on NCNO shares. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of nCino in a research note on Thursday, December 5th. Keefe, Bruyette & Woods upped their price target on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Finally, Needham & Company LLC lifted their price target on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Trading Up 1.7 %

Shares of NASDAQ NCNO opened at $28.98 on Tuesday. The business has a 50 day simple moving average of $31.73 and a 200 day simple moving average of $34.22. nCino, Inc. has a 52 week low of $27.29 and a 52 week high of $43.20. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -170.46, a PEG ratio of 5.77 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

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.