Verition Fund Management LLC Purchases Shares of 18,810 nCino, Inc. (NASDAQ:NCNO)

Verition Fund Management LLC acquired a new position in nCino, Inc. (NASDAQ:NCNO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,810 shares of the company’s stock, valued at approximately $594,000.

Several other institutional investors have also recently made changes to their positions in NCNO. Thrivent Financial for Lutherans purchased a new position in nCino during the third quarter valued at $689,000. Select Equity Group L.P. lifted its position in shares of nCino by 182.0% during the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after buying an additional 16,416 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of nCino by 51.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after acquiring an additional 189,283 shares during the period. Vanderbilt University grew its stake in shares of nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after acquiring an additional 92,481 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in nCino in the 3rd quarter worth approximately $745,000. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $38.00 price objective on shares of nCino in a research note on Thursday, December 5th. Macquarie raised their price target on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Tuesday, September 3rd. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. Finally, William Blair restated an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.38.

Insiders Place Their Bets

In other news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 341,511 shares of the company’s stock, valued at $11,874,337.47. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was 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 of the company’s stock, valued at approximately $8,482,537.50. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,235,029 shares of company stock valued at $117,599,204. Insiders own 28.40% of the company’s stock.

nCino Stock Performance

NCNO opened at $36.00 on Wednesday. The company has a market cap of $4.17 billion, a P/E ratio of -211.76, a price-to-earnings-growth ratio of 28.36 and a beta of 0.59. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $38.05 and its 200-day moving average price is $33.75. nCino, Inc. has a 52-week low of $28.09 and a 52-week high of $43.20.

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.