HighTower Advisors LLC Has $531,000 Stock Position in nCino, Inc. (NASDAQ:NCNO)

HighTower Advisors LLC boosted its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 11.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,906 shares of the company’s stock after purchasing an additional 1,724 shares during the quarter. HighTower Advisors LLC’s holdings in nCino were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NCNO. Thrivent Financial for Lutherans purchased a new position in nCino during the 3rd quarter valued at about $689,000. Verition Fund Management LLC acquired a new stake in shares of nCino during the third quarter worth approximately $594,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of nCino by 51.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after purchasing an additional 189,283 shares during the period. Select Equity Group L.P. grew its position in nCino by 182.0% during the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after purchasing an additional 16,416 shares in the last quarter. Finally, Vanderbilt University increased its stake in nCino by 192.3% in the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after buying an additional 92,481 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NCNO has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price 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. Scotiabank increased their price target on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Truist Financial reissued a “buy” rating and issued a $44.00 target price (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Barclays increased their price objective on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. Finally, Piper Sandler reissued a “neutral” rating and issued a $38.00 price objective on shares of nCino in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Trading Up 2.0 %

NASDAQ NCNO opened at $35.22 on Friday. nCino, Inc. has a 52 week low of $28.09 and a 52 week high of $43.20. 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 business has a 50 day moving average price of $38.63 and a 200-day moving average price of $33.95. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -207.16, a P/E/G ratio of 16.39 and a beta of 0.59.

Insider Buying and Selling

In other news, Director Jeff Horing sold 1,356,721 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42. Following the sale, the director now directly owns 14,656,746 shares of the company’s stock, valued at $527,935,990.92. This represents a 8.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,418,237 shares of company stock valued at $340,474,175. 28.40% of the stock is owned by insiders.

nCino Company 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.