Nicholas Company Inc. Buys 14,829 Shares of nCino, Inc. (NASDAQ:NCNO)

Nicholas Company Inc. lifted its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 203,627 shares of the company's stock after purchasing an additional 14,829 shares during the period. Nicholas Company Inc. owned 0.18% of nCino worth $6,838,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Conestoga Capital Advisors LLC acquired a new stake in nCino during the 4th quarter valued at approximately $70,256,000. ShawSpring Partners LLC increased its position in shares of nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company's stock worth $83,830,000 after buying an additional 1,424,349 shares during the period. Raymond James Financial Inc. bought a new position in nCino during the fourth quarter worth $39,334,000. Long Path Partners LP lifted its holdings in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company's stock valued at $117,559,000 after buying an additional 1,131,271 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its position in nCino by 65.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company's stock valued at $66,341,000 after acquiring an additional 828,124 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

nCino Stock Performance

NASDAQ NCNO traded up $0.35 during trading hours on Monday, hitting $28.69. The company's stock had a trading volume of 1,109,241 shares, compared to its average volume of 1,208,315. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $3.32 billion, a P/E ratio of -168.75, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The company's 50 day simple moving average is $32.18 and its two-hundred day simple moving average is $34.27. nCino, Inc. has a 12 month low of $27.29 and a 12 month high of $43.20.

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Insiders Place Their Bets

In other news, insider April Rieger sold 4,325 shares of the company'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 $140,995.00. Following the completion of the sale, the insider now directly 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 document filed with the SEC, which is available at this link. Also, Director Jeff Horing sold 4,474,158 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total value of $159,951,148.50. Following the sale, the director now directly owns 4,513,467 shares of the company's stock, valued at $161,356,445.25. This represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,561,035 shares of company stock valued at $162,915,041. Insiders own 28.40% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NCNO. KeyCorp reiterated a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Piper Sandler reaffirmed a "neutral" rating and issued a $38.00 price target on shares of nCino in a research note on Thursday, December 5th. Keefe, Bruyette & Woods increased their price objective on shares of nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a research report on Monday, December 2nd. Morgan Stanley decreased their target price on nCino from $41.00 to $39.00 and set an "equal weight" rating for the company in a research report on Friday, December 6th. Finally, Robert W. Baird cut their price target on nCino from $43.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.50.

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.