Stifel Financial Corp Has $2.81 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Stifel Financial Corp lowered its position in shares of nCino, Inc. (NASDAQ:NCNO) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,840 shares of the company’s stock after selling 5,821 shares during the quarter. Stifel Financial Corp owned 0.08% of nCino worth $2,806,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Readystate Asset Management LP grew its holdings in shares of nCino by 232.3% in the 3rd quarter. Readystate Asset Management LP now owns 523,339 shares of the company’s stock valued at $16,532,000 after buying an additional 365,831 shares during the period. Polar Asset Management Partners Inc. lifted its holdings in nCino by 94.0% during the third quarter. Polar Asset Management Partners Inc. now owns 620,300 shares of the company’s stock worth $19,595,000 after acquiring an additional 300,600 shares in the last quarter. HighTower Advisors LLC grew its stake in nCino by 11.4% in the third quarter. HighTower Advisors LLC now owns 16,906 shares of the company’s stock valued at $531,000 after acquiring an additional 1,724 shares during the period. Centiva Capital LP bought a new stake in shares of nCino in the third quarter worth about $290,000. Finally, Cinctive Capital Management LP acquired a new stake in shares of nCino during the third quarter worth about $1,321,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NCNO. Truist Financial reiterated a “buy” rating and issued a $44.00 price objective (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Keefe, Bruyette & Woods increased their price objective on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Morgan Stanley lowered their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Finally, Piper Sandler restated a “neutral” rating and issued a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Stock Performance

Shares of NCNO stock opened at $35.40 on Wednesday. The company has a fifty day moving average price of $38.56 and a two-hundred day moving average price of $33.94. nCino, Inc. has a one year low of $28.09 and a one year high of $43.20. The stock has a market cap of $4.10 billion, a P/E ratio of -208.24, a P/E/G ratio of 16.82 and a beta of 0.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

Insider Buying and Selling

In related news, Director Jeff Horing sold 70,673 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $36.11, for a total value of $2,552,002.03. Following the sale, the director now owns 8,987,625 shares in the company, valued at approximately $324,543,138.75. This represents a 0.78 % 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 stock in a transaction that occurred 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 owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,944,079 shares of company stock worth $180,523,026. Company insiders own 28.40% of the company’s stock.

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.