State of New Jersey Common Pension Fund D Buys 6,944 Shares of nCino, Inc. (NASDAQ:NCNO)

State of New Jersey Common Pension Fund D grew its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,174 shares of the company’s stock after buying an additional 6,944 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in nCino were worth $2,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strs Ohio bought a new stake in shares of nCino in the fourth quarter worth $990,000. Barclays PLC grew its stake in shares of nCino by 45.2% in the third quarter. Barclays PLC now owns 88,168 shares of the company’s stock worth $2,804,000 after purchasing an additional 27,452 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of nCino in the third quarter worth $1,161,000. Envestnet Asset Management Inc. grew its stake in shares of nCino by 85.3% in the third quarter. Envestnet Asset Management Inc. now owns 139,997 shares of the company’s stock worth $4,452,000 after purchasing an additional 64,446 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in shares of nCino in the third quarter worth $3,171,000. Institutional investors own 94.76% of the company’s stock.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $29.44 on Tuesday. The firm’s 50-day moving average price is $31.13 and its 200-day moving average price is $30.96. nCino, Inc. has a 1-year low of $21.26 and a 1-year high of $37.48. 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 data on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. The firm had revenue of $123.69 million for the quarter, compared to analyst estimates of $124.58 million. On average, equities research analysts expect that nCino, Inc. will post 0.05 EPS for the current year.

Insider Activity

In other news, CEO Pierre Naude sold 5,767 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $31.22, for a total transaction of $180,045.74. Following the transaction, the chief executive officer now owns 1,024,253 shares in the company, valued at $31,977,178.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Pierre Naude sold 5,767 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $31.22, for a total value of $180,045.74. Following the sale, the chief executive officer now owns 1,024,253 shares in the company, valued at approximately $31,977,178.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeanette Sellers sold 894 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $31.18, for a total transaction of $27,874.92. Following the completion of the sale, the vice president now owns 20,770 shares in the company, valued at approximately $647,608.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,105,300 shares of company stock worth $38,835,333. Company insiders own 38.20% of the company’s stock.

Analyst Ratings Changes

NCNO has been the topic of several analyst reports. Needham & Company LLC boosted their price objective on shares of nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Robert W. Baird boosted their price objective on shares of nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Morgan Stanley boosted their price objective on shares of nCino from $27.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods began coverage on shares of nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective on the stock. Finally, William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and a consensus price target of $35.91.

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.