nCino, Inc. (NASDAQ:NCNO) Stake Increased by Picton Mahoney Asset Management

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fifth Third Bancorp bought a new stake in shares of nCino during the fourth quarter valued at approximately $34,000. Hilltop National Bank bought a new stake in shares of nCino during the fourth quarter valued at approximately $37,000. Asset Management One Co. Ltd. raised its holdings in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after buying an additional 323 shares during the last quarter. West Tower Group LLC bought a new stake in shares of nCino during the third quarter valued at approximately $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of nCino during the third quarter valued at approximately $152,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lifted their price target on nCino from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their target price on nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Robert W. Baird dropped their target price on nCino from $43.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, December 5th. Scotiabank boosted their target price on nCino from $36.00 to $46.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 4th. Finally, Stephens boosted their target price on nCino from $35.00 to $38.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, nCino presently has a consensus rating of "Moderate Buy" and an average target price of $42.50.

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Insider Buying and Selling at nCino

In other 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory Orenstein sold 5,148 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 value of $167,824.80. Following the completion of the sale, the chief financial officer now owns 271,744 shares of the company's stock, valued at $8,858,854.40. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,561,035 shares of company stock valued at $162,915,041. Corporate insiders own 28.40% of the company's stock.

nCino Price Performance

Shares of NASDAQ NCNO traded down $0.18 during trading on Tuesday, hitting $28.51. The company had a trading volume of 999,715 shares, compared to its average volume of 1,214,834. The company has a market cap of $3.30 billion, a P/E ratio of -167.70, a PEG ratio of 5.77 and a beta of 0.66. nCino, Inc. has a 52 week low of $27.29 and a 52 week high of $43.20. The business's 50-day moving average is $32.08 and its 200 day moving average is $34.26. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

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.