Magnetar Financial LLC invests $284,000 in nCino, Inc. (NASDAQ:NCNO)

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Magnetar Financial LLC acquired a new stake in shares of nCino, Inc. (NASDAQ:NCNO – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 9,030 shares of the company’s stock, valued at approximately $284,000.

A number of other large investors have added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in shares of nCino in the second quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in nCino in the 1st quarter worth about $52,000. Covestor Ltd boosted its holdings in nCino by 29.6% in the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after buying an additional 625 shares during the last quarter. Amalgamated Bank boosted its position in nCino by 28.1% in the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after purchasing an additional 1,134 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after purchasing an additional 2,677 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s shares.

The Wall Street analyst weighs in

Several research firms have recently commented on NCNO. 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 report on Tuesday, September 3rd. Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th . Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of nCino in a research report on Wednesday, August 28th. Robert W. Baird cut their price target on shares of nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Finally, Needham & Company LLC reduced their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday. August 28. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and an average price target of $38.00, according to MarketBeat.

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See the latest stock analysis on nCino

Indoor activity at nCino

In other nCino news, Director Jeff Horing sold 921,614 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $33.50, for a total transaction of $30,874,069.00. Following the completion of the sale, the director now directly owns 17,552,574 shares in the company, valued at $588,011,229. The transaction was disclosed in a filing with the SEC, which is accessible via this link. In other news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $31.08, for a total transaction of $61,585,455.12. Following the completion of the transaction, the director now directly owns 1,545,347 shares of the company’s stock, valued at $48,029,384.76. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. Also, Director Jeff Horing sold 921,614 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $33.50, for a total value of $30,874,069.00. Following the completion of the sale, the director now directly owns 17,552,574 shares in the company, valued at $588,011,229. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,405,313 shares of company stock worth $141,769,528. Insiders own 28.40% of the company’s shares.

nCino trading down 1.9%

Shares of NCNO stock opened at $30.04 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08, and a debt-to-equity ratio of 0.09. The company has a 50 day moving average price of $31.67 and a two hundred day moving average price of $31.45. nCino, Inc. has a 12-month low of $27.13 and a 12-month high of $37.48. The firm has a market cap of $3.47 billion, a P/E ratio of -96.90, a price-to-earnings-growth ratio of 23.49 and a beta of 0.58.

nCino (NASDAQ:NCNO – Get Your Free Report ) last released its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. nCino’s quarterly revenue was up 13.0% compared to the same quarter last year. In the same quarter last year, the company posted EPS of ($0.02). Equities analysts anticipate that nCino, Inc. will post 0.06 EPS for the current fiscal year.

About nCino

(Free Report)

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, customers and third parties on a single cloud-based platform that includes customer onboarding, deposit account opening, loan origination, end-to-end mortgage suite and a powerful ecosystem.