nCino, Inc. (NASDAQ:NCNO) Stake Lifted by Sei Investments Co.

Sei Investments Co. raised its stake in nCino, Inc. (NASDAQ:NCNO) by 59.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 533,747 shares of the company’s stock after buying an additional 199,124 shares during the quarter. Sei Investments Co.’s holdings in nCino were worth $17,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after purchasing an additional 323 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after purchasing an additional 340 shares during the period. Berry Wealth Group LP raised its holdings in shares of nCino by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after buying an additional 400 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of nCino by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after buying an additional 500 shares during the period. Finally, Precision Wealth Strategies LLC grew its holdings in nCino by 5.3% in the 4th quarter. Precision Wealth Strategies LLC now owns 14,278 shares of the company’s stock worth $479,000 after buying an additional 714 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insiders Place Their Bets

In related news, insider April Rieger sold 4,325 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 $140,995.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sean Desmond sold 5,034 shares of the 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 $164,108.40. Following the transaction, the chief executive officer now owns 306,477 shares in the company, valued at approximately $9,991,150.20. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,877 shares of company stock valued at $2,963,893 in the last three months. Insiders own 28.40% of the company’s stock.

nCino Trading Down 0.8 %

NASDAQ NCNO opened at $29.49 on Friday. The company has a market capitalization of $3.41 billion, a PE ratio of -173.46, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino, Inc. has a 1-year low of $27.29 and a 1-year 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 firm’s fifty day simple moving average is $31.52 and its 200-day simple moving average is $34.15.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC lifted their target price on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Stephens reissued an “equal weight” rating and set a $38.00 price target on shares of nCino in a report on Thursday, March 20th. UBS Group started coverage on shares of nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 price objective for the company. Raymond James lowered their target price on shares of nCino from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, William Blair reissued an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, nCino presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.