OFI Invest Asset Management Invests $311,000 in nCino, Inc. (NASDAQ:NCNO)

OFI Invest Asset Management purchased a new position in nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, HoldingsChannel reports. The fund purchased 9,600 shares of the company’s stock, valued at approximately $311,000.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp bought a new position in shares of nCino in the fourth quarter worth $34,000. Hilltop National Bank bought a new position in shares of nCino in the fourth quarter worth $37,000. Asset Management One Co. Ltd. increased its holdings in shares of nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares during the period. West Tower Group LLC bought a new position in shares of nCino in the third quarter worth $126,000. Finally, PNC Financial Services Group Inc. increased its stake in nCino by 32.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after acquiring an additional 1,122 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Stock Down 5.0 %

Shares of NASDAQ:NCNO opened at $29.00 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $32.72 and its 200-day moving average price is $34.43. The stock has a market capitalization of $3.36 billion, a P/E ratio of -170.58, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino, Inc. has a 12-month low of $28.48 and a 12-month high of $43.20.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens increased their target price on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. 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 research note on Thursday, December 5th. KeyCorp reissued a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research note on Monday, January 6th. Finally, Needham & Company LLC increased their target price on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, nCino currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Transactions at nCino

In other news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeff Horing sold 4,474,158 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $35.75, for a total transaction of $159,951,148.50. Following the sale, the director now owns 4,513,467 shares of the company’s stock, valued at approximately $161,356,445.25. This represents a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,820,085 shares of company stock worth $209,067,363. Company insiders own 28.40% of the company’s stock.

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.