nCino, Inc. (NASDAQ:NCNO) Shares Sold by First Bank & Trust

First Bank & Trust lowered its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 20.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,836 shares of the company’s stock after selling 1,995 shares during the quarter. First Bank & Trust’s holdings in nCino were worth $263,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of nCino by 46.0% during the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after acquiring an additional 344,269 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in nCino in the third quarter valued at approximately $689,000. Verition Fund Management LLC purchased a new stake in nCino in the third quarter valued at approximately $594,000. Charles Schwab Investment Management Inc. boosted its position in nCino by 51.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after buying an additional 189,283 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in nCino by 63.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock valued at $5,452,000 after buying an additional 66,869 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity at nCino

In related news, CFO Gregory Orenstein sold 5,148 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 $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider April Rieger sold 4,325 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the transaction, the insider now directly owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,270,085 shares of company stock valued at $225,838,863. 28.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NCNO shares. Robert W. Baird dropped their target price on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Keefe, Bruyette & Woods upped their target price on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Scotiabank upped their target price on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Needham & Company LLC upped their target price on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Barclays upgraded nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.50.

nCino Trading Down 0.5 %

Shares of NASDAQ:NCNO opened at $32.85 on Friday. nCino, Inc. has a 1 year low of $28.09 and a 1 year high of $43.20. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -193.22, a price-to-earnings-growth ratio of 5.85 and a beta of 0.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day moving average price is $33.76 and its 200-day moving average price is $34.59.

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.