Pier Capital LLC Acquires Shares of 223,032 nCino, Inc. (NASDAQ:NCNO)

Pier Capital LLC bought a new position in shares of nCino, Inc. (NASDAQ:NCNO) in the fourth quarter, Holdings Channel reports. The institutional investor bought 223,032 shares of the company’s stock, valued at approximately $7,489,000.

A number of other institutional investors and hedge funds have also modified their holdings of NCNO. Vanguard Group Inc. boosted its holdings in nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock worth $363,697,000 after buying an additional 948,282 shares during the last quarter. ShawSpring Partners LLC lifted its position 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 valued at $83,830,000 after acquiring an additional 1,424,349 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position 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 valued at $66,341,000 after acquiring an additional 828,124 shares in the last quarter. Conestoga Capital Advisors LLC acquired a new stake in shares of nCino in the fourth quarter worth approximately $70,256,000. Finally, Brown Brothers Harriman & Co. increased 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 worth $65,261,000 after purchasing an additional 736,627 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on NCNO shares. Piper Sandler restated a “neutral” rating and issued a $38.00 price objective on shares of nCino in a report on Thursday, December 5th. Stephens reiterated an “equal weight” rating and issued a $38.00 target price on shares of nCino in a research report on Thursday, March 20th. Robert W. Baird decreased their price target 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. Macquarie upped their price objective on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC increased their price objective on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Buying and Selling

In other news, CEO Sean Desmond sold 5,034 shares of the company’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 transaction, the chief executive officer now owns 306,477 shares of the company’s stock, valued at $9,991,150.20. This represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 5,148 shares of the firm’s 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 $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,877 shares of company stock worth $2,963,893. Company insiders own 28.40% of the company’s stock.

nCino Stock Up 1.7 %

Shares of NASDAQ NCNO opened at $28.98 on Tuesday. The company has a market capitalization of $3.36 billion, a P/E ratio of -170.46, a P/E/G ratio of 5.77 and a beta of 0.66. 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 50 day simple moving average of $31.73 and a 200-day simple moving average of $34.22. nCino, Inc. has a 1 year low of $27.29 and a 1 year high of $43.20.

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.