nCino, Inc. (NASDAQ:NCNO) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC grew its position in shares of nCino, Inc. (NASDAQ:NCNO) by 12.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,150 shares of the company’s stock after acquiring an additional 4,656 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in nCino were worth $1,363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans acquired a new stake in shares of nCino in the third quarter valued at about $689,000. Charles Schwab Investment Management Inc. grew its stake in 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 purchasing an additional 189,283 shares in the last quarter. Verition Fund Management LLC acquired a new stake in nCino during the 3rd quarter valued at approximately $594,000. Select Equity Group L.P. grew its stake in 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 purchasing an additional 16,416 shares in the last quarter. Finally, Vanderbilt University lifted its holdings in nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock worth $4,441,000 after buying an additional 92,481 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at nCino

In other news, Director Jeff Horing sold 1,167,424 shares of nCino stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $36.69, for a total transaction of $42,832,786.56. Following the transaction, the director now directly owns 9,790,001 shares in the company, valued at approximately $359,195,136.69. This trade represents a 10.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Desmond sold 30,000 shares of nCino 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 transaction, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,852,703 shares of company stock worth $177,212,673 in the last three months. 28.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on NCNO shares. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Tuesday, September 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 target price on shares of nCino in a report on Thursday, December 5th. Barclays increased their target price on nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, November 25th. Morgan Stanley reduced their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Finally, Robert W. Baird reduced their target price on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.38.

nCino Stock Down 3.0 %

NCNO opened at $35.46 on Friday. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $4.11 billion, a P/E ratio of -208.59, a P/E/G ratio of 16.82 and a beta of 0.59. The stock’s 50 day moving average price is $38.36 and its 200 day moving average price is $33.84.

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.