Angeles Wealth Management LLC Makes New $219,000 Investment in nCino, Inc. (NASDAQ:NCNO)

Angeles Wealth Management LLC bought a new position in shares of nCino, Inc. (NASDAQ:NCNO) in the fourth quarter, Holdings Channel.com reports. The firm bought 6,525 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC purchased a new stake in shares of nCino in the fourth quarter worth about $70,256,000. ShawSpring Partners LLC lifted its holdings in shares of nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after buying an additional 1,424,349 shares in the last quarter. Long Path Partners LP lifted its holdings 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 worth $117,559,000 after buying an additional 1,131,271 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after buying an additional 828,124 shares in the last quarter. Finally, American Capital Management Inc. lifted its holdings in shares of nCino by 348.9% in the third quarter. American Capital Management Inc. now owns 1,029,725 shares of the company’s stock worth $32,529,000 after buying an additional 800,317 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and issued a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Robert W. Baird lowered their target price on shares of 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 shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research note on Monday, January 6th. Needham & Company LLC raised their target price on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Truist Financial reiterated a “buy” rating and set a $44.00 price target (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, nCino has an average rating of “Moderate Buy” and an average price target of $42.50.

Insider Transactions at nCino

In other news, CFO Gregory Orenstein sold 5,148 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 value of $167,824.80. Following the transaction, the chief financial officer now owns 271,744 shares in the company, valued at approximately $8,858,854.40. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 in the company, valued at $4,758,067.80. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,270,085 shares of company stock worth $225,838,863. Insiders own 28.40% of the company’s stock.

nCino Stock Up 1.6 %

Shares of nCino stock opened at $32.96 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino, Inc. has a 52-week low of $28.09 and a 52-week high of $43.20. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -193.87, a P/E/G ratio of 5.70 and a beta of 0.65. The company’s 50 day moving average price is $34.47 and its 200-day moving average price is $34.56.

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.