Loomis Sayles & Co. L P Invests $18.29 Million in nCino, Inc. (NASDAQ:NCNO)

Loomis Sayles & Co. L P acquired a new stake in nCino, Inc. (NASDAQ:NCNO) during the fourth quarter, HoldingsChannel reports. The firm acquired 544,688 shares of the company’s stock, valued at approximately $18,291,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. increased its stake in nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after purchasing an additional 344,269 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of nCino in the 3rd quarter valued at $689,000. Verition Fund Management LLC purchased a new position in shares of nCino in the 3rd quarter valued at $594,000. Charles Schwab Investment Management Inc. raised its stake in nCino by 51.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after acquiring an additional 189,283 shares in the last quarter. Finally, Bamco Inc. NY lifted its position in nCino by 50.0% in the third quarter. Bamco Inc. NY now owns 1,499,640 shares of the company’s stock valued at $47,374,000 after acquiring an additional 499,640 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

NCNO has been the topic of several research reports. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Needham & Company LLC lifted their price target on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Macquarie boosted their price objective on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Barclays upgraded shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company 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’s stock. According to data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.36.

nCino Price Performance

Shares of NCNO opened at $28.92 on Friday. The firm has a market capitalization of $3.35 billion, a PE ratio of -170.11, a P/E/G ratio of 5.77 and a beta of 0.66. The stock’s 50 day moving average is $31.44 and its two-hundred day moving average is $34.15. 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.

Insider Activity at nCino

In related news, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total value of $1,920,660.00. Following the completion of the sale, the director now owns 4,458,591 shares in the company, valued at $156,050,685. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean Desmond sold 5,034 shares of the company’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 $164,108.40. Following the transaction, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,877 shares of company stock worth $2,963,893 over the last three months. 28.40% of the stock is currently owned by corporate insiders.

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.