Conestoga Capital Advisors LLC Makes New $70.26 Million Investment in nCino, Inc. (NASDAQ:NCNO)

Conestoga Capital Advisors LLC acquired a new stake in shares of nCino, Inc. (NASDAQ:NCNO) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,092,195 shares of the company’s stock, valued at approximately $70,256,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in shares of nCino during the second quarter worth $1,313,000. The Manufacturers Life Insurance Company boosted its stake in nCino by 18.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,467 shares of the company’s stock worth $644,000 after buying an additional 3,233 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in nCino by 3.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after buying an additional 508 shares during the period. Truist Financial Corp boosted its position in shares of nCino by 16.2% in the second quarter. Truist Financial Corp now owns 41,053 shares of the company’s stock worth $1,291,000 after acquiring an additional 5,712 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in nCino during the third quarter worth approximately $219,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jeff Horing sold 450,000 shares of nCino stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the sale, the director now directly owns 12,063,467 shares in the company, valued at $449,605,415.09. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 6,238,084 shares of company stock worth $224,795,630. Insiders own 28.40% of the company’s stock.

nCino Trading Down 1.6 %

Shares of NCNO opened at $34.01 on Monday. The firm has a fifty day moving average of $35.58 and a 200-day moving average of $34.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a 1 year low of $28.09 and a 1 year high of $43.20.

Analysts Set New Price Targets

NCNO has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. UBS Group started coverage on nCino in a research note on Monday, December 16th. They set a “buy” rating and a $44.00 price target for the company. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research note on Monday, January 6th. Robert W. Baird cut their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a 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 note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.