Readystate Asset Management LP Has $7.49 Million Position in nCino, Inc. (NASDAQ:NCNO)

Readystate Asset Management LP cut its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,559 shares of the company’s stock after selling 3,598 shares during the quarter. Readystate Asset Management LP owned approximately 0.20% of nCino worth $7,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NCNO. Raymond James Financial Services Advisors Inc. lifted its stake in shares of nCino by 36.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,277 shares of the company’s stock valued at $257,000 after purchasing an additional 1,672 shares during the period. MetLife Investment Management LLC acquired a new position in shares of nCino in the 1st quarter valued at about $149,000. Blair William & Co. IL acquired a new position in shares of nCino in the 1st quarter valued at about $1,064,000. Canada Pension Plan Investment Board lifted its stake in shares of nCino by 682.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,936 shares of the company’s stock valued at $284,000 after purchasing an additional 6,050 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of nCino by 11.0% in the 1st quarter. Vanguard Group Inc. now owns 5,691,682 shares of the company’s stock valued at $233,246,000 after purchasing an additional 564,654 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Pamela Kilday sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $36.48, for a total value of $36,480.00. Following the completion of the transaction, the director now directly owns 20,930 shares of the company’s stock, valued at $763,526.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other nCino news, insider April Rieger sold 1,460 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $30.66, for a total transaction of $44,763.60. Following the completion of the transaction, the insider now directly owns 149,078 shares of the company’s stock, valued at $4,570,731.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pamela Kilday sold 1,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.48, for a total value of $36,480.00. Following the transaction, the director now directly owns 20,930 shares of the company’s stock, valued at $763,526.40. 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 over the last three months. Corporate insiders own 38.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NCNO. Morgan Stanley boosted their price objective on nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods initiated coverage on nCino in a research note on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price target on shares of nCino in a research note on Wednesday, March 27th. Finally, Needham & Company LLC upped their price target on nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.91.

nCino Stock Down 0.9 %

NCNO traded down $0.26 during midday trading on Wednesday, reaching $29.68. 988,670 shares of the company were exchanged, compared to its average volume of 937,991. 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 company’s fifty day moving average price is $31.31 and its 200 day moving average price is $30.96. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -78.11, a price-to-earnings-growth ratio of 25.74 and a beta of 0.49. nCino, Inc. has a one year low of $21.26 and a one year high of $37.48.

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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.