Jackson Square Partners LLC Sells 78,101 Shares of nCino, Inc. (NASDAQ:NCNO)

Jackson Square Partners LLC lessened its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 52.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,988 shares of the company’s stock after selling 78,101 shares during the quarter. Jackson Square Partners LLC’s holdings in nCino were worth $2,350,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NCNO. Conestoga Capital Advisors LLC purchased a new stake in nCino during the 4th quarter valued at approximately $70,256,000. ShawSpring Partners LLC lifted its holdings in shares of nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after buying an additional 1,424,349 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of nCino during the fourth quarter worth $39,334,000. Vanguard Group Inc. increased its holdings in nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock valued at $363,697,000 after acquiring an additional 948,282 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in nCino by 65.1% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after acquiring an additional 828,124 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider April Rieger sold 4,325 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the transaction, the insider now directly owns 145,953 shares in the company, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the transaction, the director now owns 4,458,591 shares in the company, valued at $156,050,685. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,877 shares of company stock valued at $2,963,893 in the last ninety days. 28.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NCNO. Piper Sandler restated a “neutral” rating and set a $38.00 price objective on shares of nCino in a research report on Thursday, December 5th. KeyCorp reissued a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. 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. Needham & Company LLC upped their price objective on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, UBS Group started coverage on shares of nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Trading Up 1.7 %

Shares of NCNO opened at $28.98 on Tuesday. nCino, Inc. has a twelve month low of $27.29 and a twelve month 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. The company’s fifty day simple moving average is $31.73 and its 200-day simple moving average is $34.22. The company has a market cap of $3.36 billion, a P/E ratio of -170.46, a P/E/G ratio of 5.77 and a beta of 0.66.

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.