Picton Mahoney Asset Management Purchases 189,827 Shares of nCino, Inc. (NASDAQ:NCNO)

Picton Mahoney Asset Management grew its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 94.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,752 shares of the company's stock after purchasing an additional 189,827 shares during the quarter. Picton Mahoney Asset Management owned about 0.34% of nCino worth $13,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new position in nCino during the 4th quarter worth approximately $34,000. Hilltop National Bank acquired a new position in nCino during the 4th quarter worth approximately $37,000. Asset Management One Co. Ltd. raised 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 worth $78,000 after buying an additional 323 shares during the period. West Tower Group LLC acquired a new position in nCino during the 3rd quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in nCino during the 3rd quarter worth approximately $152,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other nCino news, insider April Rieger sold 4,325 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Horing sold 4,474,158 shares of the stock in a transaction on 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 transaction, the director now directly owns 4,513,467 shares of the company's stock, valued at approximately $161,356,445.25. This trade represents a 49.78 % 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 over the last three months. Corporate insiders own 28.40% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NCNO. Barclays raised nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price target on the stock in a research note on Monday, January 6th. Piper Sandler reaffirmed a "neutral" rating and set a $38.00 price target on shares of nCino in a research note on Thursday, December 5th. KeyCorp reissued a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Finally, Robert W. Baird decreased their price objective on nCino from $43.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.50.

nCino Stock Performance

Shares of NCNO stock traded up $0.42 during trading on Monday, hitting $28.76. The company's stock had a trading volume of 616,564 shares, compared to its average volume of 1,169,714. The company has a market cap of $3.33 billion, a PE ratio of -169.25, a P/E/G ratio of 5.77 and a beta of 0.66. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $32.29 and a 200-day moving average of $34.28. nCino, Inc. has a 52 week low of $27.29 and a 52 week high of $43.20.

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.