5,700 Shares in nCino, Inc. (NASDAQ:NCNO) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in shares of nCino, Inc. (NASDAQ:NCNO) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 5,700 shares of the company’s stock, valued at approximately $179,000.

A number of other institutional investors also recently bought and sold shares of NCNO. Public Employees Retirement Association of Colorado acquired a new position in shares of nCino during the 2nd quarter worth $236,000. Benjamin F. Edwards & Company Inc. increased its holdings in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after acquiring an additional 1,358 shares in the last quarter. Amalgamated Bank raised its position in nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after acquiring an additional 1,134 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of nCino in the second quarter valued at about $1,005,000. Finally, Dimensional Fund Advisors LP grew its position in shares of nCino by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,240 shares of the company’s stock valued at $43,031,000 after purchasing an additional 135,395 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Tuesday, September 3rd. JMP Securities restated a “market outperform” rating and issued a $43.00 price objective on shares of nCino in a research report on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. Finally, Needham & Company LLC decreased their price target on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Three 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, nCino has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

nCino Stock Performance

NASDAQ:NCNO opened at $31.29 on Friday. The company has a market cap of $3.60 billion, a P/E ratio of -100.94, a P/E/G ratio of 23.49 and a beta of 0.58. The firm’s 50 day moving average is $31.63 and its two-hundred day moving average is $31.47. nCino, Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $37.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

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

Insider Transactions at nCino

In related news, Director Jeff Horing sold 133,487 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total value of $4,206,175.37. Following the transaction, the director now owns 24,879,980 shares in the company, valued at $783,968,169.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Jeff Horing sold 133,487 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total value of $4,206,175.37. Following the completion of the sale, the director now owns 24,879,980 shares of the company’s stock, valued at $783,968,169.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Insight Holdings Group, Llc sold 1,981,514 shares of nCino stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $31.08, for a total transaction of $61,585,455.12. Following the transaction, the director now owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,405,313 shares of company stock worth $141,769,528. 28.40% of the stock is currently owned by company insiders.

nCino Company 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.