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

Peregrine Capital Management LLC lifted its stake in nCino, Inc. (NASDAQ:NCNO) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 279,885 shares of the company’s stock after purchasing an additional 5,040 shares during the quarter. Peregrine Capital Management LLC owned about 0.24% of nCino worth $9,399,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Long Path Partners LP raised its stake in shares of nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after acquiring an additional 1,131,271 shares during the period. ShawSpring Partners LLC grew its holdings in nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after purchasing an additional 1,424,349 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in nCino by 65.1% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after purchasing an additional 828,124 shares during the period. Conestoga Capital Advisors LLC bought a new stake in nCino in the fourth quarter worth about $70,256,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of nCino by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after buying an additional 736,627 shares during the period. 94.76% of the stock is currently owned by institutional investors.

nCino Stock Down 0.4 %

Shares of NASDAQ NCNO opened at $34.25 on Tuesday. nCino, Inc. has a 12-month low of $28.09 and a 12-month high of $43.20. The stock’s fifty day simple moving average is $33.96 and its two-hundred day simple moving average is $34.60. The stock has a market capitalization of $3.97 billion, a PE ratio of -201.46, a price-to-earnings-growth ratio of 5.70 and a beta of 0.65. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group initiated coverage on nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 price target on the stock. Truist Financial reiterated a “buy” rating and set a $44.00 target price (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Keefe, Bruyette & Woods upped their price target on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Barclays raised shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Insider Buying and Selling

In related news, Director Jeff Horing sold 4,474,158 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total transaction of $159,951,148.50. Following the completion of the sale, the director now owns 4,513,467 shares of the company’s stock, valued at $161,356,445.25. This represents a 49.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider April Rieger sold 4,325 shares of the firm’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 $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,270,085 shares of company stock worth $225,838,863 in the last three months. 28.40% of the stock is owned by insiders.

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.