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

Picton Mahoney Asset Management grew its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 94.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 390,752 shares of the company’s stock after acquiring an additional 189,827 shares during the quarter. Picton Mahoney Asset Management owned about 0.34% of nCino worth $13,122,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Swiss National Bank increased its stake in nCino by 7.9% in the 4th quarter. Swiss National Bank now owns 181,800 shares of the company’s stock worth $6,105,000 after purchasing an additional 13,300 shares during the period. HighTower Advisors LLC increased its stake in nCino by 4.2% in the 4th quarter. HighTower Advisors LLC now owns 17,620 shares of the company’s stock worth $592,000 after purchasing an additional 714 shares during the period. OFI Invest Asset Management purchased a new position in nCino in the 4th quarter worth approximately $311,000. Amundi increased its stake in nCino by 312.1% in the 4th quarter. Amundi now owns 6,004 shares of the company’s stock worth $201,000 after purchasing an additional 4,547 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after purchasing an additional 1,122 shares during the period. 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 business’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 sale, the insider now directly owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sean Desmond sold 5,034 shares of the business’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 $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. Insiders have sold a total of 4,631,708 shares of company stock valued at $165,467,043 over the last ninety days. Company insiders own 28.40% of the company’s stock.

nCino Price Performance

Shares of NCNO stock opened at $28.34 on Friday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -166.70, a PEG ratio of 5.77 and a beta of 0.66. The business’s fifty day moving average is $32.29 and its 200 day moving average is $34.25. nCino, Inc. has a twelve month low of $27.29 and a twelve month 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.

Analysts Set New Price Targets

A number of equities analysts have commented on NCNO shares. Robert W. Baird decreased their price target on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock 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 target on the stock in a research note on Monday, January 6th. Morgan Stanley reduced their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. William Blair reissued an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Finally, UBS Group started coverage on nCino in a research note on Monday, December 16th. They set a “buy” rating and a $44.00 target price on the stock. 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 MarketBeat.com, nCino has an average rating of “Moderate Buy” and a consensus target price 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.