Oppenheimer Asset Management Inc. Raises Position in nCino, Inc. (NASDAQ:NCNO)

Oppenheimer Asset Management Inc. increased its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 305.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,504 shares of the company’s stock after buying an additional 38,806 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in nCino were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC purchased a new stake in shares of nCino during the fourth quarter worth about $70,256,000. ShawSpring Partners LLC boosted its stake in 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 purchasing an additional 1,424,349 shares in the last quarter. Long Path Partners LP grew its position in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after purchasing an additional 1,131,271 shares during the last quarter. ArrowMark Colorado Holdings LLC increased 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 in the last quarter. Finally, American Capital Management Inc. raised its holdings in shares of nCino by 348.9% in the third quarter. American Capital Management Inc. now owns 1,029,725 shares of the company’s stock worth $32,529,000 after buying an additional 800,317 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Stock Down 2.7 %

NCNO stock opened at $30.46 on Tuesday. nCino, Inc. has a 52 week low of $28.09 and a 52 week high of $43.20. 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 50-day simple moving average of $33.21 and a 200-day simple moving average of $34.58. The stock has a market capitalization of $3.53 billion, a P/E ratio of -179.17, a P/E/G ratio of 5.77 and a beta of 0.65.

Insider Buying and Selling at nCino

In other news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction dated Tuesday, February 4th. The shares were 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 in the company, valued at $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 6,270,085 shares of company stock valued at $225,838,863 over the last quarter. 28.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NCNO has been the topic of several research reports. Needham & Company LLC upped their target price on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a report on Monday, January 6th. UBS Group assumed coverage on nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 target price for the company. 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, Keefe, Bruyette & Woods lifted their price objective on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Five research 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, nCino has a consensus rating of “Moderate Buy” and an average target price of $42.50.

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.