Pembroke Management LTD Boosts Stock Position in nCino, Inc. (NASDAQ:NCNO)

Pembroke Management LTD boosted its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 32.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 574,092 shares of the company's stock after acquiring an additional 141,704 shares during the quarter. nCino accounts for 2.5% of Pembroke Management LTD's holdings, making the stock its 17th largest position. Pembroke Management LTD owned approximately 0.50% of nCino worth $19,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of NCNO. Fifth Third Bancorp purchased a new position in nCino during the fourth quarter valued at approximately $34,000. Hilltop National Bank acquired a new stake in nCino in the fourth quarter valued at approximately $37,000. Asset Management One Co. Ltd. grew its holdings in nCino by 21.1% in the third 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 period. West Tower Group LLC acquired a new stake in nCino in the third quarter valued at approximately $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in nCino in the third quarter valued at approximately $152,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 1,167,424 shares of nCino stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $36.69, for a total value of $42,832,786.56. Following the sale, the director now owns 9,790,001 shares in the company, valued at $359,195,136.69. The trade was a 10.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 4,325 shares of nCino 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,270,085 shares of company stock valued at $225,838,863. Insiders own 28.40% of the company's stock.

nCino Trading Down 2.4 %

NASDAQ NCNO traded down $0.79 on Friday, reaching $32.06. 1,747,059 shares of the company were exchanged, compared to its average volume of 1,092,725. The business's fifty day moving average price is $33.69 and its 200 day moving average price is $34.60. The stock has a market capitalization of $3.71 billion, a P/E ratio of -188.58, a price-to-earnings-growth ratio of 5.80 and a beta of 0.65. 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 fifty-two week low of $28.09 and a fifty-two week high of $43.20.

Wall Street Analyst Weigh In

Several brokerages have commented on NCNO. Scotiabank raised their price objective on nCino from $36.00 to $46.00 and gave the company a "sector outperform" rating in a report on Wednesday, December 4th. William Blair reissued an "outperform" rating on shares of nCino in a report on Thursday, December 5th. Needham & Company LLC raised their price objective on nCino from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Macquarie raised their price objective on nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Finally, Barclays raised nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price objective on the stock in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.50.

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.