nCino (NASDAQ:NCNO) Given New $38.00 Price Target at Stephens

nCino (NASDAQ:NCNO) had its price target increased by equities researchers at Stephens from $35.00 to $38.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Stephens’ target price points to a potential downside of 10.59% from the company’s previous close.

NCNO has been the topic of a number of other reports. Macquarie restated an “outperform” rating and set a $40.00 target price on shares of nCino in a research report on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and set a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. JMP Securities reissued a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Scotiabank increased their target price on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Finally, Truist Financial reaffirmed a “buy” rating and set a $44.00 price target (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.85.

nCino Stock Performance

nCino stock opened at $42.50 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino has a 1 year low of $28.09 and a 1 year high of $43.20. The company has a market cap of $4.91 billion, a PE ratio of -157.40, a PEG ratio of 34.42 and a beta of 0.59. The company’s 50-day moving average is $37.34 and its two-hundred day moving average is $33.51.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the sale, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This trade represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Desmond sold 30,000 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the sale, the insider now directly owns 341,511 shares of the company’s stock, valued at $11,874,337.47. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock valued at $117,599,204 in the last quarter. 28.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of nCino by 8.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after purchasing an additional 635,064 shares during the period. Long Path Partners LP increased its position in shares of nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after purchasing an additional 1,131,271 shares during the period. ShawSpring Partners LLC increased its position in shares of nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after purchasing an additional 1,424,349 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after purchasing an additional 828,124 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of nCino by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock worth $65,261,000 after purchasing an additional 736,627 shares during the period. Institutional investors own 94.76% of the company’s stock.

About nCino

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.