nCino (NASDAQ:NCNO) Price Target Raised to $43.00 at Macquarie

nCino (NASDAQ:NCNO) had its target price raised by Macquarie from $40.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Stephens lifted their price target on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday. Truist Financial restated a “buy” rating and set a $44.00 target price (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Morgan Stanley lowered their price objective on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, 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. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.38.

nCino Stock Up 0.3 %

Shares of NASDAQ:NCNO opened at $37.41 on Friday. nCino has a 1 year low of $28.09 and a 1 year high of $43.20. The stock has a 50-day simple moving average of $37.84 and a 200-day simple moving average of $33.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $4.32 billion, a P/E ratio of -220.05, a PEG ratio of 35.24 and a beta of 0.59.

Insider Buying and Selling at nCino

In other news, Director Jeff Horing sold 1,833,975 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the completion of the sale, the director now owns 12,513,467 shares in the company, valued at $458,243,161.54. This represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the transaction, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

Large investors have recently made changes to their positions in the business. Asset Management One Co. Ltd. grew its holdings in shares of nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the last quarter. Malaga Cove Capital LLC raised its holdings in nCino by 3.0% during the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after buying an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in nCino by 3.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after buying an additional 508 shares in the last quarter. Precision Wealth Strategies LLC boosted its holdings in shares of nCino by 4.5% in the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after buying an additional 589 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of nCino in the second quarter worth approximately $26,000. 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.