Jennison Associates LLC Purchases Shares of 276,461 nCino, Inc. (NASDAQ:NCNO)

Jennison Associates LLC acquired a new position in shares of nCino, Inc. (NASDAQ:NCNO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 276,461 shares of the company’s stock, valued at approximately $8,733,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NCNO. Vanguard Group Inc. boosted its stake in nCino by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after buying an additional 148,390 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of nCino by 145.6% in the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after acquiring an additional 2,677 shares during the last quarter. Bamco Inc. NY grew its holdings in nCino by 83.7% in the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after purchasing an additional 421,500 shares during the period. Untitled Investments LP increased its position in nCino by 3.0% during the first quarter. Untitled Investments LP now owns 891,248 shares of the company’s stock worth $33,315,000 after purchasing an additional 26,260 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in nCino by 18.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 454,249 shares of the company’s stock worth $16,980,000 after purchasing an additional 71,744 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Stock Up 2.4 %

Shares of NASDAQ:NCNO opened at $41.42 on Friday. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of -153.41, a price-to-earnings-growth ratio of 33.21 and a beta of 0.55. The company has a 50 day moving average of $35.70 and a two-hundred day moving average of $32.97. nCino, Inc. has a 52-week low of $27.47 and a 52-week high of $43.20. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) EPS. As a group, analysts forecast that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Needham & Company LLC lowered their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $44.00 price target (up from $37.00) on shares of nCino in a research note on Monday, October 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Stephens reissued an “equal weight” rating and set a $35.00 target price on shares of nCino in a research report on Wednesday, August 28th. Finally, Macquarie restated an “outperform” rating and issued a $40.00 price target on shares of nCino in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.82.

Insider Buying and Selling

In related news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the sale, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares in the company, valued at $11,874,337.47. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,235,582 shares of company stock worth $117,618,559. 28.40% of the stock is currently owned by corporate insiders.

About nCino

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.