5,999 Shares in nCino, Inc. (NASDAQ:NCNO) Acquired by Mechanics Bank Trust Department

Mechanics Bank Trust Department bought a new stake in shares of nCino, Inc. (NASDAQ:NCNO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,999 shares of the company’s stock, valued at approximately $201,000.

Other large investors have also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new position in shares of nCino in the fourth quarter worth approximately $37,000. Kings Path Partners LLC purchased a new position in nCino during the 4th quarter valued at about $336,000. Franklin Resources Inc. increased its holdings in shares of nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after purchasing an additional 344,269 shares during the period. Synovus Financial Corp acquired a new stake in shares of nCino during the third quarter worth approximately $656,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of nCino during the third quarter worth approximately $189,000. 94.76% of the stock is currently owned by institutional investors.

nCino Price Performance

NASDAQ:NCNO opened at $33.24 on Tuesday. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20. The company’s 50-day moving average price is $36.87 and its two-hundred day moving average price is $34.43. 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 $3.85 billion, a PE ratio of -195.52, a price-to-earnings-growth ratio of 13.80 and a beta of 0.64.

Insider Buying and Selling

In other nCino news, Director Jeff Horing sold 1,167,424 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $36.69, for a total value of $42,832,786.56. Following the transaction, the director now owns 9,790,001 shares of the company’s stock, valued at approximately $359,195,136.69. The trade was a 10.65 % 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 this hyperlink. Insiders have sold a total of 6,238,084 shares of company stock worth $224,795,630 in the last three months. Insiders own 28.40% of the company’s stock.

Analyst Ratings Changes

NCNO has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Morgan Stanley cut their price objective on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. William Blair restated an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Stephens raised their price target on nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Scotiabank boosted their price target on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.