Loomis Sayles & Co. L P Buys Shares of 544,688 nCino, Inc. (NASDAQ:NCNO)

Loomis Sayles & Co. L P bought a new position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 544,688 shares of the company's stock, valued at approximately $18,291,000. Loomis Sayles & Co. L P owned about 0.47% of nCino at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NCNO. Fifth Third Bancorp acquired a new stake in nCino in the fourth quarter worth about $34,000. Hilltop National Bank acquired a new stake in nCino in the 4th quarter worth approximately $37,000. Asset Management One Co. Ltd. grew its position in nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after purchasing an additional 323 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in nCino during the 3rd quarter valued at approximately $152,000. Finally, PNC Financial Services Group Inc. increased its stake in nCino by 32.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock valued at $152,000 after purchasing an additional 1,122 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other nCino news, CEO Sean Desmond sold 5,034 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was 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 directly owns 306,477 shares of the company's stock, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the transaction, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is owned by corporate insiders.

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nCino Price Performance

NCNO traded down $1.45 during trading on Monday, reaching $27.47. The company's stock had a trading volume of 1,910,792 shares, compared to its average volume of 1,207,664. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -161.58, a PEG ratio of 5.77 and a beta of 0.66. The firm has a fifty day simple moving average of $31.44 and a two-hundred day simple moving average of $34.22. nCino, Inc. has a 1 year low of $27.29 and a 1 year 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.

Analyst Upgrades and Downgrades

NCNO has been the topic of a number of research analyst reports. Macquarie boosted their price objective on shares of nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, December 6th. William Blair reiterated an "outperform" rating on shares of nCino in a research note on Thursday, December 5th. Barclays upgraded nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price objective for the company in a research note on Monday, January 6th. Morgan Stanley dropped their target price on nCino from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Friday, December 6th. Finally, KeyCorp reissued a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.36.

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.