Lecap Asset Management Ltd. Reduces Position in nCino, Inc. (NASDAQ:NCNO)

Lecap Asset Management Ltd. trimmed its position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 58.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,919 shares of the company's stock after selling 13,678 shares during the period. Lecap Asset Management Ltd.'s holdings in nCino were worth $333,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NCNO. Fifth Third Bancorp bought a new stake in shares of nCino during the 4th quarter valued at approximately $34,000. Hilltop National Bank bought a new stake in shares of nCino during the 4th quarter valued at approximately $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 valued at $62,000 after purchasing an additional 341 shares during the last quarter. West Tower Group LLC bought a new stake in shares of nCino during the 3rd quarter valued at approximately $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of nCino during the 3rd quarter valued at approximately $152,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NCNO has been the topic of several research reports. 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 boosted their target price on shares of nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Macquarie boosted their target price on shares of nCino from $40.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Morgan Stanley reduced their target price on shares of nCino from $41.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday, December 6th. Finally, 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 on the stock. Four research 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 company presently has an average rating of "Moderate Buy" and an average price target of $42.50.

nCino Stock Up 1.1 %

NCNO stock traded up $0.37 during midday trading on Wednesday, reaching $33.71. 1,182,241 shares of the company's stock traded hands, compared to its average volume of 1,008,137. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -198.28, a P/E/G ratio of 5.70 and a beta of 0.65. The firm's fifty day moving average price is $34.31 and its 200-day moving average price is $34.56. 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.

Insider Buying and Selling at nCino

In other news, insider April Rieger sold 4,325 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value 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. This represents a 2.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeff Horing sold 450,000 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the completion of the sale, the director now owns 12,063,467 shares of the company's stock, valued at approximately $449,605,415.09. The trade was a 3.60 % decrease in their position. 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. 28.40% of the stock is owned by corporate insiders.

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.