Hilltop National Bank Invests $37,000 in nCino, Inc. (NASDAQ:NCNO)

Hilltop National Bank bought a new position in nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,115 shares of the company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NCNO. Principal Financial Group Inc. grew its holdings in shares of nCino by 15.6% in the second quarter. Principal Financial Group Inc. now owns 6,792 shares of the company’s stock worth $214,000 after purchasing an additional 915 shares during the last quarter. Natixis Advisors LLC boosted its holdings in nCino by 30.6% in the second quarter. Natixis Advisors LLC now owns 13,889 shares of the company’s stock valued at $437,000 after acquiring an additional 3,257 shares in the last quarter. Rhumbline Advisers boosted its holdings in nCino by 19.9% in the second quarter. Rhumbline Advisers now owns 92,426 shares of the company’s stock valued at $2,907,000 after acquiring an additional 15,362 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in nCino by 20.9% in the second quarter. Victory Capital Management Inc. now owns 10,248 shares of the company’s stock valued at $322,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in nCino by 25.7% in the second quarter. Arizona State Retirement System now owns 17,586 shares of the company’s stock valued at $553,000 after acquiring an additional 3,595 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NCNO shares. Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. UBS Group started coverage on shares of nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and issued a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Truist Financial reiterated a “buy” rating and issued a $44.00 price target (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. Finally, Morgan Stanley lowered their price objective on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Four investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Insiders Place Their Bets

In other nCino news, insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the transaction, the insider now owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff Horing sold 1,356,721 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42. Following the sale, the director now owns 14,656,746 shares of the company’s stock, valued at approximately $527,935,990.92. This represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,472,665 shares of company stock valued at $342,379,155. 28.40% of the stock is owned by insiders.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $32.54 on Friday. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The business has a 50-day simple moving average of $37.84 and a two-hundred day simple moving average of $34.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of -191.40, a price-to-earnings-growth ratio of 16.39 and a beta of 0.64.

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.