nCino (NASDAQ:NCNO) Upgraded to Overweight at Barclays

nCino (NASDAQ:NCNO) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a $44.00 target price on the stock. Barclays‘s price target would indicate a potential upside of 29.15% from the company’s current price.

Several other equities analysts have also issued reports on NCNO. Stephens upped their target price on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Macquarie upped their price objective on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and set a $44.00 target price (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Piper Sandler reissued a “neutral” rating and issued a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Finally, Morgan Stanley decreased their price objective on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Stock Up 2.0 %

nCino stock opened at $34.07 on Monday. nCino has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s 50-day simple moving average is $38.19 and its 200 day simple moving average is $34.29. The stock has a market cap of $3.95 billion, a PE ratio of -200.40, a price-to-earnings-growth ratio of 16.39 and a beta of 0.64.

Insider Buying and Selling at nCino

In other news, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the transaction, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the transaction, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,418,237 shares of company stock valued at $340,474,175 in the last quarter. 28.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently bought and sold shares of NCNO. Asset Management One Co. Ltd. increased 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 buying an additional 341 shares during the last quarter. Malaga Cove Capital LLC grew its position in nCino by 3.0% in the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after acquiring an additional 400 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in nCino by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after acquiring an additional 508 shares during the last quarter. Precision Wealth Strategies LLC raised its position in nCino by 4.5% during the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock valued at $428,000 after purchasing an additional 589 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in nCino by 5.9% during the third quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock worth $465,000 after purchasing an additional 822 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Company 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.