Mirae Asset Global Investments Co. Ltd. Lowers Position in nCino, Inc. (NASDAQ:NCNO)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,041 shares of the company’s stock after selling 6,188 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in nCino were worth $4,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Trust Co of the South purchased a new position in shares of nCino during the 4th quarter worth $4,430,000. Portside Wealth Group LLC grew its holdings in shares of nCino by 6.7% during the 4th quarter. Portside Wealth Group LLC now owns 30,490 shares of the company’s stock worth $1,025,000 after purchasing an additional 1,926 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of nCino during the 4th quarter worth $228,000. Raymond James & Associates grew its holdings in shares of nCino by 6.8% during the 4th quarter. Raymond James & Associates now owns 346,306 shares of the company’s stock worth $11,646,000 after purchasing an additional 22,145 shares during the period. Finally, First Bank & Trust lifted its stake in nCino by 4.1% during the 4th quarter. First Bank & Trust now owns 9,970 shares of the company’s stock worth $335,000 after acquiring an additional 395 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NCNO shares. Piper Sandler reissued an “overweight” rating and set a $42.00 target price on shares of nCino in a research note on Wednesday, March 27th. Morgan Stanley increased their target price on nCino from $27.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Robert W. Baird increased their target price on nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. William Blair reissued an “outperform” rating on shares of nCino in a research note on Wednesday, March 27th. Finally, Needham & Company LLC increased their target price on nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.91.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 2,410 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $34.41, for a total transaction of $82,928.10. Following the completion of the sale, the chief financial officer now owns 295,246 shares in the company, valued at $10,159,414.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Gregory Orenstein sold 2,410 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $34.41, for a total transaction of $82,928.10. Following the completion of the sale, the chief financial officer now owns 295,246 shares in the company, valued at $10,159,414.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Pierre Naude sold 5,767 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total value of $180,045.74. Following the sale, the chief executive officer now owns 1,024,253 shares of the company’s stock, valued at approximately $31,977,178.66. The disclosure for this sale can be found here. Insiders sold a total of 1,105,300 shares of company stock worth $38,835,333 over the last 90 days. 38.20% of the stock is owned by insiders.

nCino Stock Performance

Shares of NCNO opened at $31.04 on Tuesday. The stock has a 50-day simple moving average of $31.35 and a 200-day simple moving average of $30.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $3.55 billion, a PE ratio of -81.68, a PEG ratio of 26.68 and a beta of 0.48. nCino, Inc. has a 1 year low of $21.26 and a 1 year high of $37.48.

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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.