Sei Investments Co. Has $17.92 Million Stake in nCino, Inc. (NASDAQ:NCNO)

Sei Investments Co. increased its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 59.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 533,747 shares of the company's stock after purchasing an additional 199,124 shares during the quarter. Sei Investments Co. owned approximately 0.46% of nCino worth $17,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its position in shares of 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 buying an additional 323 shares during the period. Victory Capital Management Inc. boosted its stake in nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after acquiring an additional 340 shares during the last quarter. Berry Wealth Group LP grew its holdings in nCino by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock worth $276,000 after acquiring an additional 400 shares during the period. Handelsbanken Fonder AB raised its position in shares of nCino by 2.2% during the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock valued at $772,000 after acquiring an additional 500 shares during the last quarter. Finally, Precision Wealth Strategies LLC increased its holdings in nCino by 5.3% in the fourth quarter. Precision Wealth Strategies LLC now owns 14,278 shares of the company's stock valued at $479,000 after purchasing an additional 714 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

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Insider Buying and Selling at nCino

In other nCino news, Director Jeff Horing sold 54,876 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.00, for a total value of $1,920,660.00. Following the completion of the sale, the director now owns 4,458,591 shares in the company, valued at $156,050,685. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider April Rieger sold 4,325 shares of nCino stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the transaction, the insider now directly owns 145,953 shares of the company's stock, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,877 shares of company stock worth $2,963,893 over the last ninety days. 28.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NCNO has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on nCino from $41.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday, December 6th. KeyCorp reiterated a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Raymond James lowered their target price on nCino from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. Barclays upgraded shares of nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 target price on the stock in a report on Monday, January 6th. Finally, UBS Group started coverage on shares of nCino in a report on Monday, December 16th. They issued a "buy" rating and a $44.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.36.

nCino Stock Down 3.9 %

Shares of NASDAQ:NCNO traded down $1.13 during midday trading on Monday, reaching $27.79. The company had a trading volume of 684,296 shares, compared to its average volume of 1,202,917. nCino, Inc. has a 1-year low of $27.29 and a 1-year high of $43.20. The stock has a market cap of $3.22 billion, a PE ratio of -163.46, a P/E/G ratio of 5.77 and a beta of 0.66. 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 business's 50 day moving average price is $31.44 and its 200 day moving average price is $34.22.

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.