Public Employees Retirement System of Ohio Decreases Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Public Employees Retirement System of Ohio lowered its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 122,956 shares of the company’s stock after selling 1,493 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in nCino were worth $3,884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its holdings in nCino by 12.1% in the third quarter. Orion Portfolio Solutions LLC now owns 43,150 shares of the company’s stock worth $1,363,000 after purchasing an additional 4,656 shares during the last quarter. Tensile Capital Management LP boosted its position in shares of nCino by 16.5% in the 3rd quarter. Tensile Capital Management LP now owns 1,268,734 shares of the company’s stock worth $40,079,000 after purchasing an additional 180,000 shares in the last quarter. State Street Corp boosted its position in shares of nCino by 13.8% in the 3rd quarter. State Street Corp now owns 1,474,208 shares of the company’s stock worth $46,570,000 after purchasing an additional 178,641 shares in the last quarter. Readystate Asset Management LP grew its stake in nCino by 232.3% during the 3rd quarter. Readystate Asset Management LP now owns 523,339 shares of the company’s stock worth $16,532,000 after buying an additional 365,831 shares during the last quarter. Finally, Polar Asset Management Partners Inc. increased its position in nCino by 94.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 620,300 shares of the company’s stock valued at $19,595,000 after buying an additional 300,600 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Stock Down 3.0 %

Shares of NCNO stock opened at $35.46 on Monday. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. 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 has a 50 day moving average of $38.36 and a 200 day moving average of $33.87. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $38.00 price target on shares of nCino in a research note on Thursday, December 5th. Truist Financial reissued a “buy” rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Keefe, Bruyette & Woods raised their price target on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Robert W. Baird lowered their price objective on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Finally, Macquarie upped their target price on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.38.

Insider Transactions at nCino

In related news, Director Jeff Horing sold 1,167,424 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $36.69, for a total value of $42,832,786.56. Following the completion of the transaction, the director now owns 9,790,001 shares of the company’s stock, valued at approximately $359,195,136.69. This represents a 10.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,852,703 shares of company stock valued at $177,212,673 in the last 90 days. 28.40% of the stock is currently owned by company insiders.

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.