Wells Fargo & Company MN Purchases 139,788 Shares of nCino, Inc. (NASDAQ:NCNO)

Wells Fargo & Company MN increased its position in shares of nCino, Inc. (NASDAQ:NCNO) by 61.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 368,620 shares of the company’s stock after acquiring an additional 139,788 shares during the quarter. Wells Fargo & Company MN’s holdings in nCino were worth $22,087,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NCNO. Dimensional Fund Advisors LP bought a new stake in nCino during the first quarter worth about $1,072,000. Captrust Financial Advisors raised its stake in nCino by 146.5% during the first quarter. Captrust Financial Advisors now owns 493 shares of the company’s stock worth $33,000 after acquiring an additional 293 shares in the last quarter. California State Teachers Retirement System raised its stake in nCino by 212.9% during the first quarter. California State Teachers Retirement System now owns 82,089 shares of the company’s stock worth $5,477,000 after acquiring an additional 55,857 shares in the last quarter. Man Group plc raised its stake in nCino by 6.2% during the first quarter. Man Group plc now owns 34,006 shares of the company’s stock worth $2,269,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in nCino by 195.6% during the first quarter. Cubist Systematic Strategies LLC now owns 17,967 shares of the company’s stock worth $1,199,000 after acquiring an additional 11,888 shares in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

In related news, Director William J. Ruh sold 55,000 shares of the stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $74.89, for a total value of $4,118,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Rudow sold 11,169 shares of the stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $75.46, for a total value of $842,812.74. The disclosure for this sale can be found here. Insiders have sold a total of 195,214 shares of company stock worth $14,529,809 over the last 90 days. Company insiders own 35.40% of the company’s stock.

Several brokerages have commented on NCNO. Barrington Research boosted their target price on nCino from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 2nd. Zacks Investment Research raised nCino from a “sell” rating to a “hold” rating in a research note on Wednesday, August 4th. Barclays boosted their target price on nCino from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 2nd. Needham & Company LLC boosted their target price on nCino from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, September 2nd. Finally, Stephens initiated coverage on nCino in a research note on Thursday, November 18th. They issued an “overweight” rating and a $80.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, nCino has an average rating of “Buy” and a consensus target price of $79.63.

nCino stock opened at $61.14 on Thursday. The business has a 50 day moving average of $71.66 and a 200-day moving average of $65.92. nCino, Inc. has a 1 year low of $48.00 and a 1 year high of $90.22. The company has a market capitalization of $5.88 billion, a P/E ratio of -117.57 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.96 and a quick ratio of 2.96.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, August 31st. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. nCino had a negative return on equity of 8.95% and a negative net margin of 21.39%. The business had revenue of $66.50 million for the quarter, compared to analysts’ expectations of $63.72 million. The firm’s revenue was up 36.3% compared to the same quarter last year. Equities analysts anticipate that nCino, Inc. will post -0.54 EPS for the current year.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications for financial institutions in the United States and internationally. Its nCino Bank Operating System, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable financial institutions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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Institutional Ownership by Quarter for nCino (NASDAQ:NCNO)

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