Raymond James Financial Services Advisors Inc. Invests $228,000 in nCino, Inc. (NASDAQ:NCNO)

Raymond James Financial Services Advisors Inc. purchased a new position in shares of nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,790 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Bank & Trust lifted its stake in shares of nCino by 4.1% in the fourth quarter. First Bank & Trust now owns 9,970 shares of the company’s stock worth $335,000 after acquiring an additional 395 shares during the period. Harbor Capital Advisors Inc. lifted its stake in nCino by 9.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,047 shares of the company’s stock valued at $439,000 after buying an additional 1,087 shares during the period. Swiss National Bank lifted its stake in nCino by 1.3% in the third quarter. Swiss National Bank now owns 111,000 shares of the company’s stock valued at $3,530,000 after buying an additional 1,400 shares during the period. Precision Wealth Strategies LLC lifted its stake in nCino by 15.8% in the third quarter. Precision Wealth Strategies LLC now owns 11,044 shares of the company’s stock valued at $351,000 after buying an additional 1,503 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in nCino by 0.4% in the third quarter. Eagle Asset Management Inc. now owns 381,280 shares of the company’s stock valued at $12,125,000 after buying an additional 1,677 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider April Rieger sold 1,518 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total transaction of $47,391.96. Following the completion of the sale, the insider now directly owns 150,538 shares of the company’s stock, valued at approximately $4,699,796.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider April Rieger sold 1,518 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total transaction of $47,391.96. Following the completion of the sale, the insider now directly owns 150,538 shares of the company’s stock, valued at approximately $4,699,796.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Gregory Orenstein sold 1,703 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $30.66, for a total value of $52,213.98. Following the sale, the chief financial officer now directly owns 219,012 shares of the company’s stock, valued at $6,714,907.92. The disclosure for this sale can be found here. Insiders sold a total of 1,105,300 shares of company stock valued at $38,835,333 in the last ninety days. 38.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on NCNO shares. Robert W. Baird boosted their price target on nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Morgan Stanley upped their target price on nCino from $27.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 target price on shares of nCino in a research report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods initiated coverage on nCino in a research report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.91.

nCino Trading Up 0.0 %

Shares of nCino stock opened at $30.17 on Thursday. The stock has a fifty day simple moving average of $31.16 and a 200 day simple moving average of $30.95. nCino, Inc. has a 12-month low of $21.26 and a 12-month high of $37.48. The company has a market capitalization of $3.45 billion, a P/E ratio of -79.39, a price-to-earnings-growth ratio of 24.58 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. nCino had a positive return on equity of 0.31% and a negative net margin of 8.89%. The business had revenue of $123.69 million during the quarter, compared to the consensus estimate of $124.58 million. On average, sell-side analysts anticipate that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

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.