Peregrine Capital Management LLC Boosts Stock Position in nCino, Inc. (NASDAQ:NCNO)

Peregrine Capital Management LLC lifted its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 1.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 279,885 shares of the company’s stock after buying an additional 5,040 shares during the period. Peregrine Capital Management LLC’s holdings in nCino were worth $9,399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fifth Third Bancorp acquired a new position in nCino during the fourth quarter worth $34,000. Hilltop National Bank acquired a new position in shares of nCino during the 4th quarter worth about $37,000. Asset Management One Co. Ltd. boosted its holdings in nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after buying an additional 341 shares during the last quarter. West Tower Group LLC purchased a new stake in nCino during the 3rd quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of nCino during the third quarter valued at approximately $152,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 4,325 shares of the stock in a transaction dated Tuesday, February 4th. The shares were 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 owns 145,953 shares of the company’s stock, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 306,477 shares in the company, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,270,085 shares of company stock valued at $225,838,863. 28.40% of the stock is currently owned by insiders.

nCino Price Performance

NASDAQ:NCNO opened at $34.25 on Tuesday. nCino, Inc. has a 52 week low of $28.09 and a 52 week high of $43.20. The stock’s fifty day moving average is $33.96 and its two-hundred day moving average is $34.60. The company has a market capitalization of $3.97 billion, a P/E ratio of -201.46, a P/E/G ratio of 5.70 and a beta of 0.65. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Wall Street Analyst Weigh In

NCNO has been the topic of a number of research analyst reports. Scotiabank lifted their price target on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods upped their target price on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Truist Financial reissued a “buy” rating and issued a $44.00 price target (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of nCino in a research note on Thursday, December 5th. Finally, Morgan Stanley decreased their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.