Picton Mahoney Asset Management Raises Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Picton Mahoney Asset Management grew its stake in nCino, Inc. (NASDAQ:NCNO) by 94.5% in the fourth quarter, HoldingsChannel.com reports. 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’s holdings in nCino were worth $13,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Management One Co. Ltd. boosted its stake in 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. Victory Capital Management Inc. boosted its stake in nCino by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after buying an additional 340 shares during the last quarter. Berry Wealth Group LP boosted its stake in nCino by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after buying an additional 400 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in nCino by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $772,000 after buying an additional 500 shares during the last quarter. Finally, Precision Wealth Strategies LLC boosted its stake in nCino by 5.3% during the fourth quarter. Precision Wealth Strategies LLC now owns 14,278 shares of the company’s stock valued at $479,000 after buying an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Trading Up 3.6 %

NCNO opened at $28.34 on Friday. The stock’s fifty day moving average is $32.29 and its two-hundred day moving average is $34.25. The company has a market capitalization of $3.28 billion, a P/E ratio of -166.70, 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 company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insiders Place Their Bets

In other news, insider April Rieger sold 4,325 shares of the firm’s 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 of the company’s stock, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory Orenstein sold 5,148 shares of nCino stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $167,824.80. Following the sale, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,631,708 shares of company stock worth $165,467,043 in the last ninety days. 28.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NCNO shares. Morgan Stanley dropped their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. Stephens raised their price objective on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research note on Monday, January 6th. Macquarie raised their price objective on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.