1,171,341 Shares in nCino, Inc. (NASDAQ:NCNO) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of nCino, Inc. (NASDAQ:NCNO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,171,341 shares of the company’s stock, valued at approximately $39,334,000.

A number of other large investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of nCino by 8.0% during the fourth quarter. Arizona State Retirement System now owns 26,842 shares of the company’s stock worth $901,000 after buying an additional 1,990 shares during the period. Victory Capital Management Inc. increased its stake in shares of nCino by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock worth $407,000 after buying an additional 340 shares during the period. Keybank National Association OH purchased a new stake in shares of nCino during the fourth quarter worth approximately $297,000. Charles Schwab Investment Management Inc. increased its stake in shares of nCino by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 566,627 shares of the company’s stock worth $19,027,000 after buying an additional 9,870 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in nCino in the fourth quarter valued at approximately $377,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Stock Performance

Shares of NCNO opened at $29.02 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company’s 50 day simple moving average is $32.53 and its 200-day simple moving average is $34.35. nCino, Inc. has a 12-month low of $28.13 and a 12-month high of $43.20. The firm has a market cap of $3.36 billion, a PE ratio of -170.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66.

Insider Buying and Selling

In related news, 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 transaction of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares of the company’s stock, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $140,995.00. Following the sale, 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. Insiders sold a total of 4,652,411 shares of company stock valued at $166,225,394 over the last three months. 28.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird dropped their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Scotiabank increased their price target on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods increased their price target on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Piper Sandler reiterated a “neutral” rating and issued a $38.00 price target on shares of nCino in a research note on Thursday, December 5th. Finally, William Blair reiterated 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.50.

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.