EFG Asset Management North America Corp. Boosts Stock Position in nCino, Inc. (NASDAQ:NCNO)

EFG Asset Management North America Corp. increased its stake in nCino, Inc. (NASDAQ:NCNO) by 26.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 70,739 shares of the company’s stock after buying an additional 14,980 shares during the quarter. EFG Asset Management North America Corp.’s holdings in nCino were worth $2,376,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of nCino in the third quarter worth about $689,000. Verition Fund Management LLC bought a new position in shares of nCino in the third quarter valued at approximately $594,000. Charles Schwab Investment Management Inc. grew its stake in nCino by 51.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after acquiring an additional 189,283 shares in the last quarter. Finally, Commerce Bank bought a new stake in nCino during the 3rd quarter worth approximately $575,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $29.38 on Wednesday. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -172.81, a P/E/G ratio of 5.77 and a beta of 0.66. The stock’s 50-day moving average is $31.66 and its 200 day moving average is $34.22. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 1-year low of $27.29 and a 1-year high of $43.20.

Insider Buying and Selling at nCino

In other nCino news, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the sale, the director now directly owns 4,458,591 shares in the company, valued at $156,050,685. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 5,148 shares of nCino 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 completion of the transaction, the chief financial officer now owns 271,744 shares in the company, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,877 shares of company stock worth $2,963,893 over the last ninety days. Insiders own 28.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NCNO shares. Morgan Stanley cut their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Raymond James dropped their price objective on nCino from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group assumed coverage on nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 target price on the stock. Scotiabank raised their price target on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their price objective on nCino from $40.00 to $45.00 and gave the stock 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.79.

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.