nCino, Inc. (NASDAQ:NCNO) Shares Purchased by Norden Group LLC

Norden Group LLC lifted its stake in nCino, Inc. (NASDAQ:NCNO) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,831 shares of the company’s stock after acquiring an additional 872 shares during the period. Norden Group LLC’s holdings in nCino were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp bought a new position in nCino during the fourth quarter valued at about $34,000. Hilltop National Bank bought a new stake in nCino in the fourth quarter worth about $37,000. Asset Management One Co. Ltd. lifted 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 valued at $62,000 after acquiring an additional 341 shares during the last quarter. West Tower Group LLC bought a new position in shares of nCino during the 3rd quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of nCino in the 3rd quarter worth approximately $152,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NCNO. Keefe, Bruyette & Woods increased their target price on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Scotiabank increased their price objective on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. KeyCorp reissued a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Finally, Macquarie increased their price target on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Price Performance

Shares of NCNO opened at $31.31 on Monday. The business’s 50-day moving average is $33.30 and its 200-day moving average is $34.61. 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 company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -184.17, a P/E/G ratio of 5.77 and a beta of 0.65. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20.

Insider Activity at nCino

In related news, Director Jeff Horing sold 450,000 shares of nCino stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the completion of the sale, the director now owns 12,063,467 shares of the company’s stock, valued at approximately $449,605,415.09. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the transaction, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,270,085 shares of company stock valued at $225,838,863. Corporate insiders own 28.40% of the company’s stock.

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.