Oppenheimer Asset Management Inc. Raises Stake in nCino, Inc. (NASDAQ:NCNO)

Oppenheimer Asset Management Inc. lifted its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 305.6% during the 4th quarter, Holdings Channel reports. The fund owned 51,504 shares of the company’s stock after buying an additional 38,806 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in nCino were worth $1,730,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NCNO. US Bancorp DE raised its position in shares of nCino by 21.6% during the 3rd quarter. US Bancorp DE now owns 46,981 shares of the company’s stock valued at $1,484,000 after buying an additional 8,342 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in nCino by 71.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 385,000 shares of the company’s stock worth $12,162,000 after acquiring an additional 160,000 shares during the last quarter. Asset Management One Co. Ltd. raised its position in nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after purchasing an additional 341 shares during the period. Malaga Cove Capital LLC lifted its stake in shares of nCino by 3.0% in the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock valued at $430,000 after purchasing an additional 400 shares during the last quarter. Finally, Olympiad Research LP purchased a new position in shares of nCino during the 3rd quarter worth $789,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Transactions at nCino

In related news, CEO Sean Desmond sold 5,034 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 $164,108.40. Following the transaction, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pierre Naude sold 17,026 shares of the business’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 $555,047.60. Following the completion of the sale, the director now owns 1,097,213 shares of the company’s stock, valued at approximately $35,769,143.80. This represents a 1.53 % 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. Corporate insiders own 28.40% of the company’s stock.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $30.46 on Tuesday. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20. The firm has a market capitalization of $3.53 billion, a P/E ratio of -179.17, a P/E/G ratio of 5.77 and a beta of 0.65. 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’s fifty day moving average price is $33.21 and its 200 day moving average price is $34.58.

Wall Street Analyst Weigh In

A number of research analysts have commented on NCNO shares. Scotiabank upped their target price on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. 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. UBS Group began coverage on nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 price objective for the company. Stephens raised their price objective on shares of nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.