Jennison Associates LLC Has $19.24 Million Stock Position in nCino, Inc. (NASDAQ:NCNO)

Jennison Associates LLC raised its holdings in nCino, Inc. (NASDAQ:NCNO) by 107.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 573,092 shares of the company’s stock after buying an additional 296,631 shares during the quarter. Jennison Associates LLC owned 0.49% of nCino worth $19,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NCNO. Fifth Third Bancorp bought a new position in nCino during the fourth quarter worth $34,000. Hilltop National Bank acquired a new position in shares of nCino during the fourth quarter valued at about $37,000. Asset Management One Co. Ltd. boosted its position 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 purchasing an additional 341 shares in the last quarter. West Tower Group LLC acquired a new stake in shares of nCino in the 3rd quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in nCino in the 3rd quarter valued at about $152,000. 94.76% of the stock is currently owned by institutional investors.

nCino Trading Down 0.1 %

NASDAQ:NCNO opened at $32.74 on Thursday. The company has a market cap of $3.79 billion, a P/E ratio of -192.58, a P/E/G ratio of 13.00 and a beta of 0.65. nCino, Inc. has a 1 year low of $28.09 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The stock’s fifty day moving average price is $35.02 and its two-hundred day moving average price is $34.55.

Insider Buying and Selling

In related news, Director Jeff Horing sold 20,703 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.63, for a total transaction of $758,350.89. Following the completion of the transaction, the director now owns 9,058,298 shares of the company’s stock, valued at approximately $331,805,455.74. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 6,238,084 shares of company stock valued at $224,795,630. Corporate insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the topic of several recent research reports. Stephens increased 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. Scotiabank increased their target price on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Robert W. Baird decreased their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Needham & Company LLC raised their price objective on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.50.

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.