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

Principal Financial Group Inc. increased its position in nCino, Inc. (NASDAQ:NCNO) by 15.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,792 shares of the company’s stock after purchasing an additional 915 shares during the period. Principal Financial Group Inc.’s holdings in nCino were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NCNO. Crewe Advisors LLC acquired a new stake in shares of nCino during the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in nCino in the 1st quarter valued at $52,000. Covestor Ltd boosted its holdings in nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after acquiring an additional 625 shares during the period. Lazard Asset Management LLC grew its stake in shares of nCino by 145.6% in the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after acquiring an additional 2,677 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in nCino during the fourth quarter valued at about $171,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Tuesday, September 3rd. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $42.00 in a report on Wednesday, August 14th. Macquarie reissued an “outperform” rating and issued a $40.00 price target on shares of nCino in a report on Wednesday, August 28th. Needham & Company LLC lowered their price target on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Finally, Truist Financial reissued a “buy” rating and issued a $37.00 price target on shares of nCino in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Insider Transactions at nCino

In other news, Director Insight Holdings Group, Llc sold 195,292 shares of nCino stock in a transaction on Friday, June 21st. The shares were sold at an average price of $31.60, for a total transaction of $6,171,227.20. Following the transaction, the director now directly owns 2,057,578 shares of the company’s stock, valued at $65,019,464.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Jeff Horing sold 921,614 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $33.50, for a total value of $30,874,069.00. Following the sale, the director now directly owns 17,552,574 shares of the company’s stock, valued at approximately $588,011,229. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Insight Holdings Group, Llc sold 195,292 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $31.60, for a total transaction of $6,171,227.20. Following the completion of the sale, the director now directly owns 2,057,578 shares in the company, valued at $65,019,464.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,741,422 shares of company stock valued at $152,380,666 over the last three months. 28.40% of the stock is currently owned by corporate insiders.

nCino Price Performance

NCNO opened at $29.39 on Monday. The company has a fifty day moving average price of $31.91 and a two-hundred day moving average price of $31.41. 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, Inc. has a 52 week low of $27.13 and a 52 week high of $37.48. The firm has a market capitalization of $3.38 billion, a PE ratio of -94.81, a P/E/G ratio of 22.77 and a beta of 0.58.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. During the same quarter in the previous year, the business earned ($0.02) EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, analysts anticipate that nCino, Inc. will post 0.06 earnings per share for the current year.

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.