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

OFI Invest Asset Management acquired a new position in shares of nCino, Inc. (NASDAQ:NCNO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,600 shares of the company’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in nCino during the 4th quarter worth approximately $34,000. Hilltop National Bank bought a new stake in nCino during the 4th quarter worth approximately $37,000. Asset Management One Co. Ltd. increased its holdings in nCino by 21.1% during the 3rd 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 in the last quarter. West Tower Group LLC bought a new stake in nCino during the 3rd quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in nCino during the 3rd quarter worth approximately $152,000. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NCNO has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. UBS Group initiated coverage on nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 target price on the stock. Scotiabank boosted 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, December 4th. KeyCorp restated a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Finally, William Blair restated an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.50.

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 4,325 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the sale, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sean Desmond sold 5,034 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $164,108.40. Following the sale, the chief executive officer now owns 306,477 shares in the company, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,820,085 shares of company stock worth $209,067,363 over the last 90 days. Corporate insiders own 28.40% of the company’s stock.

nCino Trading Down 5.0 %

NASDAQ:NCNO opened at $29.00 on Tuesday. The company has a market cap of $3.36 billion, a P/E ratio of -170.58, a P/E/G ratio of 5.77 and a beta of 0.66. The stock’s fifty day moving average price is $32.72 and its two-hundred day moving average price is $34.43. nCino, Inc. has a 1 year low of $28.48 and a 1 year 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.

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.