Kayne Anderson Rudnick Investment Management LLC raised its stake in nCino, Inc. (NASDAQ:NCNO – Free Report) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,782,689 shares of the company’s stock after acquiring an additional 635,064 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 6.76% of nCino worth $244,766,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in NCNO. Crewe Advisors LLC acquired a new position in nCino in the 2nd quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of nCino in the first quarter valued at approximately $52,000. Covestor Ltd lifted its stake in shares of nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after buying an additional 625 shares during the period. Amalgamated Bank boosted its position in nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after acquiring an additional 1,134 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after acquiring an additional 2,677 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
nCino Price Performance
NCNO opened at $30.44 on Friday. The company has a 50 day moving average of $31.81 and a two-hundred day moving average of $31.39. nCino, Inc. has a 52-week low of $27.13 and a 52-week high of $37.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.50 billion, a P/E ratio of -98.42, a P/E/G ratio of 22.77 and a beta of 0.58.
Insider Activity at nCino
In other nCino news, Director Insight Holdings Group, Llc sold 138,319 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $31.53, for a total value of $4,361,198.07. Following the completion of the transaction, the director now owns 135,015 shares in the company, valued at approximately $4,257,022.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other nCino news, Director Insight Holdings Group, Llc sold 138,319 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $31.53, for a total value of $4,361,198.07. Following the transaction, the director now owns 135,015 shares in the company, valued at approximately $4,257,022.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Horing sold 133,487 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total transaction of $4,206,175.37. Following the completion of the transaction, the director now directly owns 24,879,980 shares of the company’s stock, valued at $783,968,169.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,546,130 shares of company stock worth $146,209,438. 28.40% of the stock is currently owned by company insiders.
Analyst Ratings Changes
NCNO has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Truist Financial restated a “buy” rating and issued a $37.00 price target on shares of nCino in a report on Wednesday, August 28th. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.00.
View Our Latest Stock Report on nCino
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.
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