Jennison Associates LLC Has $19.24 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Jennison Associates LLC lifted its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 107.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 573,092 shares of the company's stock after purchasing an additional 296,631 shares during the quarter. Jennison Associates LLC owned about 0.49% of nCino worth $19,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp acquired a new stake in nCino in the fourth quarter worth $34,000. Hilltop National Bank bought a new position in shares of nCino during the fourth quarter worth about $37,000. Asset Management One Co. Ltd. increased its holdings in shares of nCino by 21.1% in the 3rd 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 during the period. West Tower Group LLC bought a new stake in nCino in the 3rd quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in nCino during the 3rd quarter valued at about $152,000. Institutional investors own 94.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NCNO shares. Piper Sandler reaffirmed a "neutral" rating and set a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Keefe, Bruyette & Woods raised their target price on nCino from $41.00 to $49.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Needham & Company LLC boosted their price target on nCino from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Morgan Stanley lowered their price target on nCino from $41.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday, December 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of nCino in a report on Thursday, December 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.50.

nCino Stock Down 0.0 %

NASDAQ:NCNO traded down $0.01 during trading hours on Friday, reaching $32.44. 1,006,795 shares of the company's stock were exchanged, compared to its average volume of 967,172. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20. The business's 50-day simple moving average is $34.64 and its two-hundred day simple moving average is $34.54.

Insider Activity

In related news, CEO Sean Desmond sold 5,034 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the sale, the chief executive officer now owns 306,477 shares in the company, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider April Rieger sold 4,325 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now owns 145,953 shares in the company, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,270,085 shares of company stock worth $225,838,863. Insiders own 28.40% of the company's stock.

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.