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

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of nCino, Inc. (NASDAQ:NCNO) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities & 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. owned 0.11% of nCino worth $4,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Bank & Trust lifted its position in shares of nCino by 4.1% during the fourth quarter. First Bank & Trust now owns 9,970 shares of the company’s stock worth $335,000 after purchasing an additional 395 shares during the last quarter. State of Wyoming lifted its position in shares of nCino by 56.8% during the fourth quarter. State of Wyoming now owns 1,350 shares of the company’s stock worth $36,000 after purchasing an additional 489 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of nCino by 2.2% during the third quarter. Commonwealth Equity Services LLC now owns 25,371 shares of the company’s stock worth $865,000 after purchasing an additional 543 shares during the last quarter. Legal & General Group Plc lifted its position in shares of nCino by 1.4% during the third quarter. Legal & General Group Plc now owns 48,533 shares of the company’s stock worth $1,543,000 after purchasing an additional 693 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of nCino by 2.2% during the fourth quarter. Alliancebernstein L.P. now owns 33,887 shares of the company’s stock worth $896,000 after purchasing an additional 726 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NCNO. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Piper Sandler restated an “overweight” rating and issued a $42.00 price objective on shares of nCino in a report on Wednesday, March 27th. Needham & Company LLC lifted their price objective on nCino from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Morgan Stanley lifted their price objective on nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Finally, Robert W. Baird lifted their price objective on nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.91.

Insider Transactions at nCino

In other news, insider April Rieger sold 1,460 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.66, for a total transaction of $44,763.60. Following the sale, the insider now owns 149,078 shares in the company, valued at $4,570,731.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Insight Holdings Group, Llc sold 1,031,659 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $35.20, for a total transaction of $36,314,396.80. Following the sale, the director now owns 545,039 shares in the company, valued at $19,185,372.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider April Rieger sold 1,460 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.66, for a total value of $44,763.60. Following the sale, the insider now owns 149,078 shares in the company, valued at approximately $4,570,731.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,105,300 shares of company stock worth $38,835,333. Insiders own 38.20% of the company’s stock.

nCino Price Performance

Shares of NCNO stock opened at $31.04 on Tuesday. nCino, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $37.48. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -81.68, a PEG ratio of 26.68 and a beta of 0.48. 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’s 50-day simple moving average is $31.35 and its 200-day simple moving average is $30.98.

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.