nCino (NASDAQ:NCNO) Price Target Lowered to $39.00 at Morgan Stanley

nCino (NASDAQ:NCNO) had its price target reduced by Morgan Stanley from $41.00 to $39.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

NCNO has been the subject of a number of other research reports. Barclays upped their price objective on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, November 25th. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Thursday. Truist Financial restated a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Stephens upped their price target on shares of nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, JMP Securities reissued a “market outperform” rating and set a $43.00 price target on shares of nCino in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average price target of $42.38.

nCino Stock Up 0.3 %

Shares of NCNO opened at $37.41 on Friday. The stock has a 50 day moving average price of $37.84 and a 200 day moving average price of $33.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -220.05, a PEG ratio of 35.24 and a beta of 0.59. nCino has a one year low of $28.09 and a one year high of $43.20.

Insider Transactions at nCino

In other nCino news, insider Sean Desmond sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the sale, the insider now directly owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,235,029 shares of company stock valued at $117,599,204 in the last quarter. 28.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

Several large investors have recently made changes to their positions in NCNO. Thrivent Financial for Lutherans purchased a new stake in shares of nCino during the 3rd quarter valued at about $689,000. Select Equity Group L.P. lifted its holdings in nCino by 182.0% in the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after buying an additional 16,416 shares in the last quarter. Vanderbilt University boosted its holdings in nCino by 192.3% in the third quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after purchasing an additional 92,481 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in nCino during the 3rd quarter valued at approximately $745,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in nCino by 63.2% during the 3rd 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 and hedge funds own 94.76% 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.