Strs Ohio Purchases New Shares in nCino, Inc. (NASDAQ:NCNO)

Strs Ohio purchased a new position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,450 shares of the company's stock, valued at approximately $990,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Trust Co of the South purchased a new position in nCino during the 4th quarter valued at about $4,430,000. Portside Wealth Group LLC boosted its stake in shares of nCino by 6.7% during the 4th quarter. Portside Wealth Group LLC now owns 30,490 shares of the company's stock worth $1,025,000 after purchasing an additional 1,926 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of nCino during the 4th quarter worth about $228,000. Raymond James & Associates boosted its stake in shares of nCino by 6.8% during the 4th quarter. Raymond James & Associates now owns 346,306 shares of the company's stock worth $11,646,000 after purchasing an additional 22,145 shares during the last quarter. Finally, First Bank & Trust boosted its stake in shares of nCino by 4.1% during the 4th quarter. First Bank & Trust now owns 9,970 shares of the company's stock worth $335,000 after purchasing an additional 395 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $42.00 price target on shares of nCino in a research note on Wednesday, March 27th. Morgan Stanley raised their price target on shares of nCino from $27.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 27th. Needham & Company LLC raised their price target on shares of nCino from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, March 27th. Robert W. Baird raised their target price on shares of nCino from $34.00 to $36.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 27th. Finally, William Blair reissued an "outperform" rating on shares of nCino in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.91.

Insider Buying and Selling

In related news, Director Insight Holdings Group, Llc sold 1,031,659 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $35.20, for a total value of $36,314,396.80. Following the completion of the sale, the director now owns 545,039 shares of the company's stock, valued at $19,185,372.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other nCino news, CEO Pierre Naude sold 5,767 shares of the business's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $31.22, for a total transaction of $180,045.74. Following the sale, the chief executive officer now owns 1,024,253 shares in the company, valued at approximately $31,977,178.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Insight Holdings Group, Llc sold 1,031,659 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $35.20, for a total value of $36,314,396.80. Following the sale, the director now owns 545,039 shares in the company, valued at approximately $19,185,372.80. The disclosure for this sale can be found here. Insiders sold 1,105,300 shares of company stock valued at $38,835,333 over the last 90 days. 38.20% of the stock is currently owned by company insiders.

nCino Stock Up 0.0 %

Shares of NASDAQ:NCNO traded up $0.01 during midday trading on Wednesday, reaching $30.17. The company had a trading volume of 757,452 shares, compared to its average volume of 935,510. nCino, Inc. has a one year low of $21.26 and a one year high of $37.48. The stock has a market capitalization of $3.45 billion, a P/E ratio of -79.39, a PEG ratio of 24.58 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17. The stock's fifty day moving average price is $31.16 and its 200-day moving average price is $30.95.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $123.69 million during the quarter, compared to the consensus estimate of $124.58 million. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. Equities research analysts expect that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

nCino 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.