nCino, Inc. (NASDAQ:NCNO) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 92.3% in the third quarter, Holdings Channel reports. The firm owned 22,500 shares of the company’s stock after acquiring an additional 10,800 shares during the period. Handelsbanken Fonder AB’s holdings in nCino were worth $711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in nCino by 3.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after purchasing an additional 508 shares in the last quarter. First Bank & Trust boosted its holdings in nCino by 5.7% in the 2nd quarter. First Bank & Trust now owns 10,188 shares of the company’s stock worth $320,000 after acquiring an additional 546 shares during the period. Covestor Ltd boosted its holdings in nCino by 29.6% in the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after acquiring an additional 625 shares during the period. Mesirow Institutional Investment Management Inc. boosted its holdings in nCino by 6.1% in the 1st quarter. Mesirow Institutional Investment Management Inc. now owns 12,422 shares of the company’s stock worth $464,000 after acquiring an additional 719 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in nCino by 8.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,084 shares of the company’s stock worth $377,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

NCNO has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $38.00 price target on shares of nCino in a report on Wednesday, August 28th. Needham & Company LLC decreased their price target on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Macquarie reiterated an “outperform” rating and set a $40.00 target price on shares of nCino in a research note on Wednesday, August 28th. Finally, JMP Securities reiterated a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.18.

nCino Stock Performance

Shares of NCNO opened at $34.51 on Friday. nCino, Inc. has a 12-month low of $27.13 and a 12-month high of $37.48. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The business’s fifty day moving average price is $31.43 and its 200 day moving average price is $31.57. The stock has a market capitalization of $3.99 billion, a PE ratio of -127.81, a price-to-earnings-growth ratio of 26.59 and a beta of 0.59.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. During the same period last year, the company earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts forecast that nCino, Inc. will post 0.05 EPS for the current year.

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 8,856 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $31.23, for a total value of $276,572.88. Following the sale, the insider now directly owns 165,791 shares of the company’s stock, valued at $5,177,652.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider April Rieger sold 8,856 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $31.23, for a total transaction of $276,572.88. Following the transaction, the insider now directly owns 165,791 shares of the company’s stock, valued at approximately $5,177,652.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeff Horing sold 365,764 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $33.16, for a total value of $12,128,734.24. Following the transaction, the director now directly owns 18,786,478 shares in the company, valued at $622,959,610.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,290,312 shares of company stock valued at $75,977,898 over the last three months. Company insiders own 28.40% of the company’s stock.

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.