Charles Schwab Investment Management Inc. Has $11.67 Million Stock Position in nCino, Inc. (NASDAQ:NCNO)

Charles Schwab Investment Management Inc. boosted its stake in shares of nCino, Inc. (NASDAQ:NCNOFree Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 347,058 shares of the company’s stock after buying an additional 8,538 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.31% of nCino worth $11,672,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NCNO. Fred Alger Management LLC raised its holdings in shares of nCino by 6.4% in the third quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock valued at $42,582,000 after purchasing an additional 80,556 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of nCino by 2.6% in the third quarter. New York State Common Retirement Fund now owns 741,831 shares of the company’s stock valued at $23,590,000 after purchasing an additional 19,060 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of nCino by 3.7% in the third quarter. American Century Companies Inc. now owns 615,021 shares of the company’s stock valued at $19,558,000 after purchasing an additional 22,015 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of nCino in the third quarter valued at approximately $17,398,000. Finally, Untitled Investments LP raised its holdings in shares of nCino by 11.8% in the third quarter. Untitled Investments LP now owns 476,318 shares of the company’s stock valued at $15,147,000 after purchasing an additional 50,383 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. William Blair reissued an “outperform” rating on shares of nCino in a research note on Wednesday, March 27th. Needham & Company LLC raised their target price on shares of nCino from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Robert W. Baird raised their target price on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods started coverage on shares of nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.91.

Check Out Our Latest Research Report on nCino

Insider Activity

In other news, insider April Rieger sold 27,513 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.09, for a total value of $992,944.17. Following the completion of the sale, the insider now owns 128,075 shares of the company’s stock, valued at $4,622,226.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider April Rieger sold 27,513 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.09, for a total value of $992,944.17. Following the completion of the sale, the insider now owns 128,075 shares of the company’s stock, valued at $4,622,226.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William J. Ruh sold 5,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $34.51, for a total transaction of $172,550.00. Following the completion of the sale, the director now directly owns 251,201 shares of the company’s stock, valued at approximately $8,668,946.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,114,061 shares of company stock valued at $39,096,813. 28.40% of the stock is owned by company insiders.

nCino Trading Down 1.2 %

NCNO stock opened at $30.15 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17. The company has a fifty day moving average price of $31.67 and a two-hundred day moving average price of $31.31. nCino, Inc. has a one year low of $21.32 and a one year high of $37.48. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -79.34, a price-to-earnings-growth ratio of 25.43 and a beta of 0.57.

nCino (NASDAQ:NCNOGet Free Report) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $124.58 million. Equities analysts anticipate that nCino, Inc. will post 0.05 EPS for the current year.

nCino Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for nCino (NASDAQ:NCNO)

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