Gagnon Securities LLC Invests $4.19 Million in nCino, Inc. (NASDAQ:NCNO)

Gagnon Securities LLC bought a new position in shares of nCino, Inc. (NASDAQ:NCNO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 124,759 shares of the company’s stock, valued at approximately $4,189,000. Gagnon Securities LLC owned 0.11% of nCino at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the period. Malaga Cove Capital LLC boosted its stake in shares of nCino by 3.0% during the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after acquiring an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in nCino by 3.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after purchasing an additional 508 shares during the last quarter. Precision Wealth Strategies LLC lifted its holdings in nCino by 4.5% during the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after purchasing an additional 589 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in nCino by 5.9% during the 3rd quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock worth $465,000 after purchasing an additional 822 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Jeff Horing sold 20,703 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.63, for a total transaction of $758,350.89. Following the sale, the director now owns 9,058,298 shares in the company, valued at $331,805,455.74. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 6,238,084 shares of company stock worth $224,795,630 in the last 90 days. Insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Macquarie lifted their price target on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Stephens lifted their price target on nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Robert W. Baird dropped their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Trading Down 1.6 %

Shares of NCNO opened at $34.01 on Friday. nCino, Inc. has a 52-week low of $28.09 and a 52-week 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 business’s fifty day moving average is $35.58 and its 200-day moving average is $34.53.

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.