nCino (NASDAQ:NCNO) Upgraded by Barclays to Overweight Rating

nCino (NASDAQ:NCNO) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage presently has a $44.00 price objective on the stock. Barclays‘s price objective suggests a potential upside of 31.11% from the stock’s current price.

Several other equities analysts also recently issued reports on NCNO. UBS Group began coverage on shares of nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 price objective on the stock. Robert W. Baird lowered their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Scotiabank increased their target price on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Macquarie lifted their price target on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC increased their price objective on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.50.

nCino Stock Performance

Shares of NCNO stock opened at $33.56 on Monday. nCino has a 12-month low of $28.09 and a 12-month high of $43.20. The company has a market capitalization of $3.89 billion, a P/E ratio of -197.40, a P/E/G ratio of 16.39 and a beta of 0.64. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $38.01 and its two-hundred day moving average is $34.32.

Insider Buying and Selling

In related news, Director Jeff Horing sold 4,474,158 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $35.75, for a total value of $159,951,148.50. Following the completion of the transaction, the director now directly owns 4,513,467 shares in the company, valued at approximately $161,356,445.25. This represents a 49.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,418,237 shares of company stock worth $340,474,175. Insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NCNO. Asset Management One Co. Ltd. raised its stake in shares of nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after acquiring an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after purchasing an additional 1,358 shares during the last quarter. West Tower Group LLC purchased a new stake in nCino in the third quarter valued at approximately $126,000. Northwest & Ethical Investments L.P. acquired a new position in nCino during the third quarter worth $152,000. Finally, Amalgamated Bank boosted its position in shares of nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after buying an additional 1,134 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Company 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.