New York State Common Retirement Fund Sells 39,503 Shares of nCino, Inc. (NASDAQ:NCNO)

New York State Common Retirement Fund reduced its stake in nCino, Inc. (NASDAQ:NCNO) by 5.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 702,328 shares of the company’s stock after selling 39,503 shares during the period. New York State Common Retirement Fund’s holdings in nCino were worth $23,619,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NCNO. First Bank & Trust increased its stake in shares of nCino by 4.1% during the fourth quarter. First Bank & Trust now owns 9,970 shares of the company’s stock valued at $335,000 after purchasing an additional 395 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of nCino by 9.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,047 shares of the company’s stock valued at $439,000 after purchasing an additional 1,087 shares in the last quarter. Swiss National Bank increased its stake in shares of nCino by 1.3% during the third quarter. Swiss National Bank now owns 111,000 shares of the company’s stock valued at $3,530,000 after purchasing an additional 1,400 shares in the last quarter. Precision Wealth Strategies LLC increased its stake in shares of nCino by 15.8% during the third quarter. Precision Wealth Strategies LLC now owns 11,044 shares of the company’s stock valued at $351,000 after purchasing an additional 1,503 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of nCino by 0.4% during the third quarter. Eagle Asset Management Inc. now owns 381,280 shares of the company’s stock valued at $12,125,000 after purchasing an additional 1,677 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NCNO shares. 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. Keefe, Bruyette & Woods initiated coverage on shares of nCino in a research note on Tuesday, April 9th. They set an “outperform” rating and a $41.00 target price for the company. Morgan Stanley increased their price target 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 reiterated an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Finally, Piper Sandler reiterated an “overweight” rating and set a $42.00 price target 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 given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.91.

Insider Buying and Selling

In related news, insider April Rieger sold 1,518 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $31.22, for a total value of $47,391.96. Following the sale, the insider now owns 150,538 shares in the company, valued at $4,699,796.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider April Rieger sold 1,518 shares of nCino stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $31.22, for a total transaction of $47,391.96. Following the transaction, the insider now owns 150,538 shares in the company, valued at approximately $4,699,796.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 1,814 shares of nCino stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total transaction of $56,633.08. Following the transaction, the chief financial officer now owns 220,715 shares in the company, valued at approximately $6,890,722.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,105,300 shares of company stock worth $38,835,333. 38.20% of the stock is owned by insiders.

nCino Trading Down 0.9 %

Shares of NCNO stock opened at $29.51 on Friday. nCino, Inc. has a 12-month low of $21.26 and a 12-month high of $37.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50 day moving average is $31.14 and its 200 day moving average is $30.94.

nCino (NASDAQ:NCNO) last issued its 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 negative net margin of 8.89% and a positive return on equity of 0.31%. The company had revenue of $123.69 million for the quarter, compared to analysts’ expectations of $124.58 million. On average, equities analysts expect 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.