Deutsche Bank AG Purchases Shares of 119,688 nCino Inc. $NCNO

Deutsche Bank AG purchased a new position in nCino Inc. (NASDAQ:NCNO) during the second quarter, HoldingsChannel.com reports. The fund purchased 119,688 shares of the company’s stock, valued at approximately $1,957,000.

A number of other hedge funds have also recently modified their holdings of the company. Millennium Management LLC raised its position in nCino by 16.6% during the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock valued at $8,347,000 after purchasing an additional 43,247 shares during the last quarter. Woodline Partners LP increased its stake in shares of nCino by 105.3% during the first quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock valued at $363,000 after buying an additional 6,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of nCino by 16.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after buying an additional 39,345 shares during the period. Prudential Financial Inc. bought a new position in shares of nCino during the second quarter valued at approximately $208,000. Finally, Marshall Wace LLP bought a new position in shares of nCino during the second quarter valued at approximately $4,163,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other nCino news, Director Pierre Naude sold 4,677 shares of nCino stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $89,891.94. Following the completion of the sale, the director owned 1,116,707 shares of the company’s stock, valued at approximately $21,463,108.54. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 11,815 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $230,746.95. Following the completion of the transaction, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at $24,042,992.40. This represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 83,350 shares of company stock worth $1,568,144. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

NCNO has been the topic of several recent analyst reports. Truist Financial lifted their price target on shares of nCino from $19.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of nCino from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group cut their target price on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Finally, Piper Sandler started coverage on nCino in a research report on Monday. They set an “overweight” rating and a $25.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.38.

nCino Price Performance

Shares of NCNO opened at $22.99 on Friday. The company has a market capitalization of $2.43 billion, a P/E ratio of 76.63 and a beta of 0.66. The company has a quick ratio of 0.89, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $18.35 and a 200 day moving average of $16.97. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $32.53.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.