EFG Asset Management North America Corp. Has $2.38 Million Stake in nCino, Inc. (NASDAQ:NCNO)

EFG Asset Management North America Corp. increased its position in nCino, Inc. (NASDAQ:NCNO) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,739 shares of the company’s stock after purchasing an additional 14,980 shares during the period. EFG Asset Management North America Corp. owned approximately 0.06% of nCino worth $2,376,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Conestoga Capital Advisors LLC bought a new position in shares of nCino in the fourth quarter valued at $70,256,000. ShawSpring Partners LLC raised its holdings in shares of nCino by 115.9% in the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after acquiring an additional 1,424,349 shares during the last quarter. Raymond James Financial Inc. bought a new position in nCino in the 4th quarter valued at about $39,334,000. Vanguard Group Inc. lifted its position 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 in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its stake in nCino by 65.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after purchasing an additional 828,124 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NCNO. Barclays upgraded nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Monday, January 6th. Robert W. Baird dropped their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Stephens reiterated an “equal weight” rating and issued a $38.00 target price on shares of nCino in a report on Thursday, March 20th. Finally, Macquarie raised their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.79.

nCino Stock Performance

Shares of NCNO stock opened at $29.38 on Wednesday. nCino, Inc. has a 52 week low of $27.29 and a 52 week high of $43.20. The firm’s 50-day simple moving average is $31.66 and its two-hundred day simple moving average is $34.22. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -172.81, a P/E/G ratio of 5.77 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

Insider Buying and Selling

In other nCino news, CEO Sean Desmond sold 5,034 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares of the company’s stock, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Pierre Naude sold 17,026 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 1,097,213 shares in the company, valued at $35,769,143.80. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,877 shares of company stock valued at $2,963,893. 28.40% of the stock is owned by company insiders.

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.