Conestoga Capital Advisors LLC Takes $70.26 Million Position in nCino, Inc. (NASDAQ:NCNO)

Conestoga Capital Advisors LLC acquired a new stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,092,195 shares of the company's stock, valued at approximately $70,256,000. Conestoga Capital Advisors LLC owned 1.81% of nCino as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp purchased a new stake in nCino during the fourth quarter valued at about $34,000. Hilltop National Bank acquired a new position in shares of nCino in the 4th quarter valued at about $37,000. Asset Management One Co. Ltd. grew its holdings in shares of nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company's stock worth $62,000 after purchasing an additional 341 shares during the period. West Tower Group LLC acquired a new stake in nCino during the 3rd quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in nCino in the third quarter valued at approximately $152,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NCNO has been the subject of several research reports. Scotiabank boosted their price objective on shares of nCino from $36.00 to $46.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods increased their price target on nCino from $41.00 to $49.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Needham & Company LLC boosted their price objective on nCino from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. William Blair reaffirmed an "outperform" rating on shares of nCino in a research report on Thursday, December 5th. Finally, Barclays upgraded nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 target price on the stock in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.50.

Insider Activity at nCino

In other nCino news, insider April Rieger sold 4,325 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean Desmond sold 5,034 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the transaction, the chief executive officer now owns 306,477 shares in the company, valued at approximately $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,270,085 shares of company stock valued at $225,838,863 over the last three months. 28.40% of the stock is owned by insiders.

nCino Stock Down 0.9 %

Shares of NCNO traded down $0.29 during midday trading on Thursday, hitting $32.45. The company had a trading volume of 729,481 shares, compared to its average volume of 981,995. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of -190.87, a PEG ratio of 13.00 and a beta of 0.65. The company's 50 day moving average price is $34.84 and its 200 day moving average price is $34.53. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 52 week low of $28.09 and a 52 week high of $43.20.

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.