Gagnon Advisors LLC Takes Position in nCino, Inc. (NASDAQ:NCNO)

Gagnon Advisors LLC purchased a new position in nCino, Inc. (NASDAQ:NCNO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,511 shares of the company's stock, valued at approximately $2,603,000. nCino makes up about 1.7% of Gagnon Advisors LLC's holdings, making the stock its 22nd biggest position. Gagnon Advisors LLC owned approximately 0.07% of nCino at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Long Path Partners LP grew its position in shares of nCino by 43.7% in the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company's stock worth $117,559,000 after buying an additional 1,131,271 shares during the last quarter. ShawSpring Partners LLC boosted its holdings in nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company's stock worth $83,830,000 after purchasing an additional 1,424,349 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company's stock worth $66,341,000 after acquiring an additional 828,124 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of nCino by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company's stock valued at $65,261,000 after purchasing an additional 736,627 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in nCino by 26.1% in the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company's stock worth $47,951,000 after acquiring an additional 313,637 shares during the period. 94.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 20,703 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.63, for a total transaction of $758,350.89. Following the completion of the transaction, the director now owns 9,058,298 shares in the company, valued at $331,805,455.74. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 6,238,084 shares of company stock valued at $224,795,630 over the last ninety days. 28.40% of the stock is owned by insiders.

nCino Price Performance

Shares of nCino stock traded up $0.05 during trading hours on Wednesday, reaching $32.81. The company's stock had a trading volume of 795,818 shares, compared to its average volume of 969,507. The firm has a 50 day moving average price of $35.21 and a 200-day moving average price of $34.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $3.80 billion, a P/E ratio of -192.99, a P/E/G ratio of 13.00 and a beta of 0.65. nCino, Inc. has a one year low of $28.09 and a one year high of $43.20.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of nCino in a research report on Thursday, December 5th. Macquarie boosted their price objective on nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Truist Financial reiterated a "buy" rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Needham & Company LLC boosted their price target on nCino from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Finally, UBS Group started coverage on nCino in a research note on Monday, December 16th. They issued a "buy" rating and a $44.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.

nCino 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.