Jackson Square Partners LLC Reduces Position in nCino, Inc. (NASDAQ:NCNO)

Jackson Square Partners LLC decreased its holdings in nCino, Inc. (NASDAQ:NCNO) by 52.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,988 shares of the company’s stock after selling 78,101 shares during the period. Jackson Square Partners LLC owned 0.06% of nCino worth $2,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NCNO. Fifth Third Bancorp purchased a new position in nCino during the 4th quarter valued at about $34,000. Hilltop National Bank bought a new position in shares of nCino in the fourth quarter valued at approximately $37,000. Asset Management One Co. Ltd. grew its stake in nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares in the last quarter. West Tower Group LLC purchased a new stake in nCino in the 3rd quarter worth approximately $126,000. Finally, PNC Financial Services Group Inc. lifted 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 in the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Needham & Company LLC boosted their price target on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Macquarie lifted their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stephens reiterated an “equal weight” rating and set a $38.00 target price on shares of nCino in a report on Thursday, March 20th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of nCino in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Insider Transactions at nCino

In related news, insider April Rieger sold 4,325 shares of the business’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 directly owns 145,953 shares in the company, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeff Horing sold 54,876 shares of nCino stock in a transaction that occurred on 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock worth $2,963,893 in the last three months. Corporate insiders own 28.40% of the company’s stock.

nCino Stock Up 1.7 %

NCNO opened at $28.98 on Tuesday. The firm’s 50 day simple moving average is $31.73 and its two-hundred day simple moving average is $34.22. The company has a market capitalization of $3.36 billion, a PE ratio of -170.46, a PEG ratio of 5.77 and a beta of 0.66. nCino, Inc. has a 1-year low of $27.29 and a 1-year high of $43.20. 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 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.