nCino (NASDAQ:NCNO) Price Target Lowered to $42.00 at Robert W. Baird

nCino (NASDAQ:NCNO) had its price objective lowered by Robert W. Baird from $43.00 to $42.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC increased their price objective on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Stephens increased their price objective on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday. Scotiabank increased their price objective on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Finally, Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.31.

nCino Stock Performance

nCino stock opened at $37.28 on Thursday. The firm has a 50 day simple moving average of $37.59 and a 200-day simple moving average of $33.57. nCino has a 1-year low of $28.09 and a 1-year high of $43.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of -138.07, a price-to-earnings-growth ratio of 34.42 and a beta of 0.59.

Insider Activity

In related news, Director Jeff Horing sold 1,833,975 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. This trade represents a 12.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at $9,705,064.60. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its position in nCino by 46.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares during the last quarter. Synovus Financial Corp purchased a new position in nCino during the 3rd quarter worth $656,000. Sanctuary Advisors LLC purchased a new position in nCino during the 3rd quarter worth $189,000. Geode Capital Management LLC grew its position in nCino by 26.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock worth $47,951,000 after purchasing an additional 313,637 shares during the last quarter. Finally, Bullseye Asset Management LLC grew its position in nCino by 58.5% during the 3rd quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock worth $4,451,000 after purchasing an additional 52,000 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.