Signaturefd LLC Lowers Stock Position in nCino, Inc. (NASDAQ:NCNO)

Signaturefd LLC trimmed its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,407 shares of the company’s stock after selling 4,697 shares during the period. Signaturefd LLC’s holdings in nCino were worth $920,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Fifth Third Bancorp purchased a new position in nCino in the fourth quarter worth $34,000. Hilltop National Bank acquired a new position in shares of nCino during the 4th quarter worth $37,000. Asset Management One Co. Ltd. increased its holdings in shares of nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after purchasing an additional 323 shares in the last quarter. West Tower Group LLC acquired a new stake in shares of nCino in the third quarter valued at about $126,000. Finally, PNC Financial Services Group Inc. boosted its holdings in nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after buying an additional 1,122 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.00, for a total value 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 approximately $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the 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 $164,108.40. Following the transaction, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is owned by company insiders.

nCino Trading Up 0.9 %

Shares of nCino stock opened at $28.77 on Thursday. nCino, Inc. has a fifty-two week low of $27.29 and a fifty-two week high of $43.20. The business’s fifty day moving average is $31.99 and its two-hundred day moving average is $34.22. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.33 billion, a PE ratio of -169.23, a P/E/G ratio of 5.77 and a beta of 0.66.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NCNO. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of nCino in a research note on Thursday, December 5th. Morgan Stanley decreased their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Robert W. Baird dropped their price target on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Finally, Macquarie boosted their price objective on shares of nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.50.

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.