Jackson Square Partners LLC Sells 78,101 Shares of nCino, Inc. (NASDAQ:NCNO)

Jackson Square Partners LLC cut its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 52.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,988 shares of the company's stock after selling 78,101 shares during the quarter. Jackson Square Partners LLC owned 0.06% of nCino worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NCNO. Pier Capital LLC bought a new position in nCino in the 4th quarter worth $7,489,000. EFG Asset Management North America Corp. grew its position in shares of nCino by 26.9% in the 4th quarter. EFG Asset Management North America Corp. now owns 70,739 shares of the company's stock worth $2,376,000 after buying an additional 14,980 shares during the period. Vanguard Group Inc. increased its stake in shares of nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock worth $363,697,000 after acquiring an additional 948,282 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in nCino during the 4th quarter valued at about $608,000. Finally, Sei Investments Co. boosted its stake in nCino by 59.5% during the fourth quarter. Sei Investments Co. now owns 533,747 shares of the company's stock worth $17,923,000 after acquiring an additional 199,124 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group began coverage on shares of nCino in a report on Monday, December 16th. They set a "buy" rating and a $44.00 target price for the company. Needham & Company LLC lifted their price objective on nCino from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. William Blair reissued an "outperform" rating on shares of nCino in a research note on Thursday, December 5th. Raymond James reduced their price target on nCino from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Barclays raised shares of nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price objective on the stock in a research report on Monday, January 6th. Five 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 presently has a consensus rating of "Moderate Buy" and an average price target of $41.36.

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nCino Stock Performance

NCNO traded down $0.57 during mid-day trading on Friday, reaching $28.92. 1,242,216 shares of the company traded hands, compared to its average volume of 1,204,851. The stock has a market capitalization of $3.35 billion, a P/E ratio of -170.11, a P/E/G ratio of 5.77 and a beta of 0.66. nCino, Inc. has a 52-week low of $27.29 and a 52-week high of $43.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The company's fifty day moving average price is $31.44 and its 200-day moving average price is $34.18.

Insider Activity at nCino

In other nCino news, CFO Gregory Orenstein sold 5,148 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $167,824.80. Following the transaction, the chief financial officer now owns 271,744 shares of the company's stock, valued at $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Horing sold 54,876 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the sale, the director now directly owns 4,458,591 shares of the company's stock, valued at approximately $156,050,685. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is owned by insiders.

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.