124,759 Shares in nCino, Inc. (NASDAQ:NCNO) Purchased by Gagnon Securities LLC

Gagnon Securities LLC bought a new position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 124,759 shares of the company's stock, valued at approximately $4,189,000. Gagnon Securities LLC owned approximately 0.11% of nCino at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company's stock valued at $38,327,000 after acquiring an additional 344,269 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of nCino in the third quarter valued at approximately $689,000. Verition Fund Management LLC purchased a new position in shares of nCino during the third quarter worth approximately $594,000. Charles Schwab Investment Management Inc. increased its holdings in shares of nCino by 51.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company's stock valued at $17,588,000 after acquiring an additional 189,283 shares during the period. Finally, Vanderbilt University raised its position in nCino by 192.3% in the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company's stock valued at $4,441,000 after purchasing an additional 92,481 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Activity

In related news, Director Jeff Horing sold 1,167,424 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $36.69, for a total transaction of $42,832,786.56. Following the transaction, the director now owns 9,790,001 shares of the company's stock, valued at approximately $359,195,136.69. This trade represents a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 6,238,084 shares of company stock worth $224,795,630 over the last 90 days. 28.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NCNO has been the subject of several recent research reports. UBS Group assumed coverage on nCino in a report on Monday, December 16th. They set a "buy" rating and a $44.00 price target for the company. Morgan Stanley cut their price objective on shares of nCino from $41.00 to $39.00 and set an "equal weight" rating for the company in a research report on Friday, December 6th. William Blair restated an "outperform" rating on shares of nCino in a report on Thursday, December 5th. Piper Sandler reissued a "neutral" rating and issued a $38.00 target price on shares of nCino in a research report on Thursday, December 5th. Finally, Barclays raised shares of nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price target on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.

nCino Stock Performance

Shares of NASDAQ:NCNO traded up $0.04 during trading hours on Wednesday, hitting $32.80. The stock had a trading volume of 795,818 shares, compared to its average volume of 969,507. The stock's fifty day simple moving average is $35.21 and its 200 day simple moving average is $34.56. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -192.99, a PEG ratio of 13.00 and a beta of 0.65. 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 1-year low of $28.09 and a 1-year 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.