Franklin Resources Inc. Has $38.33 Million Stock Position in nCino, Inc. (NASDAQ:NCNO)

Franklin Resources Inc. lifted its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 46.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,092,862 shares of the company’s stock after buying an additional 344,269 shares during the period. Franklin Resources Inc.’s holdings in nCino were worth $38,327,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Crewe Advisors LLC acquired a new position in nCino during the second quarter worth about $26,000. Asset Management One Co. Ltd. raised its stake in nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares in the last quarter. West Tower Group LLC acquired a new position in nCino during the 3rd quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in nCino during the 3rd quarter worth approximately $152,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other news, Director Jeff Horing sold 70,673 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $36.11, for a total transaction of $2,552,002.03. Following the completion of the sale, the director now directly owns 8,987,625 shares in the company, valued at $324,543,138.75. This represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the sale, the insider now owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,944,079 shares of company stock valued at $180,523,026. 28.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NCNO has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Robert W. Baird lowered their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Morgan Stanley lowered their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Scotiabank upped their target price on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Stock Performance

NASDAQ:NCNO opened at $35.40 on Wednesday. The company has a market capitalization of $4.10 billion, a PE ratio of -208.24, a P/E/G ratio of 16.82 and a beta of 0.59. The company has a 50 day simple moving average of $38.56 and a two-hundred day simple moving average of $33.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20.

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.