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

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

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp acquired a new stake in nCino in the fourth quarter valued at about $34,000. Hilltop National Bank acquired a new stake in nCino in the fourth quarter valued at about $37,000. Asset Management One Co. Ltd. boosted its stake in nCino by 16.5% in 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 in the last quarter. West Tower Group LLC acquired a new stake in nCino in the third quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in nCino in the third quarter valued at about $152,000. Institutional investors own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Piper Sandler reissued a "neutral" rating and set a $38.00 price target on shares of nCino in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price target on nCino from $41.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday, December 2nd. Needham & Company LLC lifted their price target on nCino from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, Macquarie lifted their price target on nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.50.

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Insiders Place Their Bets

In other nCino news, insider April Rieger sold 4,325 shares of nCino stock in a transaction that occurred 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 approximately $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Horing sold 54,876 shares of nCino stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.00, for a total value of $1,920,660.00. Following the completion of the sale, the director now owns 4,458,591 shares of the company's stock, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is owned by corporate insiders.

nCino Trading Up 0.9 %

Shares of nCino stock traded up $0.26 during midday trading on Wednesday, reaching $28.77. The company had a trading volume of 745,372 shares, compared to its average volume of 1,212,963. The stock has a fifty day moving average price of $32.08 and a 200 day moving average price of $34.26. 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 firm has a market cap of $3.33 billion, a PE ratio of -169.23, a P/E/G ratio of 5.77 and a beta of 0.66. nCino, Inc. has a fifty-two week low of $27.29 and a fifty-two week 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.