Centiva Capital LP acquired a new position in nCino, Inc. (NASDAQ:NCNO – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 9,181 shares of the company’s stock, valued at approximately $290,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanderbilt University bought a new position in shares of nCino in the 2nd quarter worth about $1,512,000. Portside Wealth Group LLC boosted its position in shares of nCino by 23.4% in the 2nd quarter. Portside Wealth Group LLC now owns 39,786 shares of the company’s stock worth $1,251,000 after purchasing an additional 7,536 shares in the last quarter. Raymond James & Associates increased its position in nCino by 6.0% during the 2nd quarter. Raymond James & Associates now owns 403,429 shares of the company’s stock valued at $12,688,000 after buying an additional 22,729 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in nCino during the 2nd quarter valued at approximately $236,000. Finally, Nicholas Company Inc. raised its stake in nCino by 13.2% during the second quarter. Nicholas Company Inc. now owns 133,368 shares of the company’s stock valued at $4,194,000 after buying an additional 15,500 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.
Insider Buying and Selling
In related news, insider Sean Desmond sold 30,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the transaction, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,235,029 shares of company stock valued at $117,599,204. 28.40% of the stock is owned by company insiders.
nCino Stock Down 3.0 %
Analysts Set New Price Targets
A number of equities research analysts have recently commented on NCNO shares. Macquarie increased their target price on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. JMP Securities restated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Scotiabank upped their target price on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Stephens raised 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, December 5th. Finally, Truist Financial reiterated a “buy” rating and set a $44.00 target price (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and a consensus target price of $42.38.
Read Our Latest Research Report on nCino
About nCino
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.
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