Legal & General Group Plc Takes Position in nCino Inc. $NCNO

Legal & General Group Plc acquired a new position in nCino Inc. (NASDAQ:NCNO) during the second quarter, Holdings Channel.com reports. The firm acquired 90,132 shares of the company’s stock, valued at approximately $1,474,000.

Several other institutional investors have also recently made changes to their positions in NCNO. Millennium Management LLC boosted its holdings in nCino by 16.6% in the first 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 raised its stake in shares of nCino by 105.3% during the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of nCino by 16.3% during the 1st 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 last quarter. Prudential Financial Inc. acquired a new position in shares of nCino in the 2nd quarter valued at about $208,000. Finally, Marshall Wace LLP acquired a new position in shares of nCino in the 2nd quarter valued at about $4,163,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Price Performance

Shares of nCino stock opened at $23.12 on Monday. The firm has a market cap of $2.44 billion, a PE ratio of 77.07 and a beta of 0.69. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $31.92. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $19.17 and a 200 day moving average price of $17.18.

Insider Transactions at nCino

In other nCino news, Director Pierre Naude sold 4,677 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $89,891.94. Following the completion of the transaction, the director directly owned 1,116,707 shares in the company, valued at approximately $21,463,108.54. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 11,780 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $226,411.60. Following the transaction, the chief financial officer directly owned 690,513 shares in the company, valued at approximately $13,271,659.86. The trade was a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 75,976 shares of company stock worth $1,452,687 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

NCNO has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of nCino in a research report on Wednesday, August 26th. UBS Group restated a “buy” rating on shares of nCino in a research report on Wednesday, August 26th. Barclays raised their price objective on shares of nCino from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 26th. Citizens Jmp boosted their target price on shares of nCino from $23.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 26th. Finally, Zacks Research downgraded shares of nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.38.

nCino Company Profile

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.