Insight Holdings Group LLC Cuts Stock Position in nCino, Inc. (NASDAQ:NCNO)

Insight Holdings Group LLC lessened its stake in nCino, Inc. (NASDAQ:NCNO) by 36.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,013,467 shares of the company’s stock after selling 9,000,000 shares during the quarter. nCino makes up about 22.0% of Insight Holdings Group LLC’s investment portfolio, making the stock its 2nd largest position. Insight Holdings Group LLC owned about 13.86% of nCino worth $505,865,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Crewe Advisors LLC purchased a new stake in nCino in the 2nd quarter valued at about $26,000. Asset Management One Co. Ltd. grew its stake in shares of nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after acquiring an additional 1,358 shares during the period. West Tower Group LLC acquired a new position in shares of nCino in the third quarter valued at approximately $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of nCino in the third quarter valued at $152,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NCNO. Keefe, Bruyette & Woods boosted their price target on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday. Macquarie reissued an “outperform” rating and issued a $40.00 price target on shares of nCino in a report on Wednesday, October 23rd. Stephens restated an “equal weight” rating and issued a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Finally, William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.83.

nCino Trading Up 0.3 %

Shares of nCino stock traded up $0.12 during trading on Tuesday, reaching $41.67. The company’s stock had a trading volume of 22,700 shares, compared to its average volume of 1,058,516. The company has a 50-day moving average price of $36.90 and a two-hundred day moving average price of $33.38. nCino, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

Insider Buying and Selling at nCino

In other nCino news, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the sale, the director now owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. The trade was a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Ruh sold 10,000 shares of the 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 transaction, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,235,029 shares of company stock valued at $117,599,204. Company insiders own 28.40% of the company’s stock.

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.