Picton Mahoney Asset Management Increases Stake in nCino, Inc. (NASDAQ:NCNO)

Picton Mahoney Asset Management grew its position in nCino, Inc. (NASDAQ:NCNO - Free Report) by 94.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 390,752 shares of the company's stock after buying an additional 189,827 shares during the period. Picton Mahoney Asset Management owned 0.34% of nCino worth $13,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NCNO. Fifth Third Bancorp acquired a new stake in nCino in the fourth quarter worth about $34,000. Hilltop National Bank purchased a new stake in nCino during the 4th quarter worth approximately $37,000. Asset Management One Co. Ltd. increased its stake in nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares in the last quarter. West Tower Group LLC purchased a new position in shares of nCino in the third quarter worth $126,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after buying an additional 1,122 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insider Transactions at nCino

In related news, insider April Rieger sold 4,325 shares of the business'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 of the company's stock, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sean Desmond sold 5,034 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the transaction, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,561,035 shares of company stock valued at $162,915,041 in the last three months. 28.40% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

NCNO has been the subject of a number of research reports. William Blair reaffirmed an "outperform" rating on shares of nCino in a research report on Thursday, December 5th. 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 report on Friday, December 6th. Needham & Company LLC increased their price target on shares of nCino from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. UBS Group assumed coverage on shares of nCino in a research note on Monday, December 16th. They set a "buy" rating and a $44.00 price objective for the company. Finally, Barclays upgraded shares of nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price objective on the stock in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.50.

nCino Price Performance

NASDAQ NCNO traded down $0.34 during trading hours on Tuesday, reaching $28.36. The company's stock had a trading volume of 186,135 shares, compared to its average volume of 1,208,483. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -166.81, a P/E/G ratio of 5.77 and a beta of 0.66. The company's 50-day moving average is $32.18 and its two-hundred day moving average is $34.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a 1-year low of $27.29 and a 1-year high of $43.20.

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.