nCino, Inc. (NASDAQ:NCNO) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP trimmed its position in nCino, Inc. (NASDAQ:NCNO) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,249,712 shares of the company’s stock after selling 3,536 shares during the quarter. Wasatch Advisors LP owned about 1.97% of nCino worth $84,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NCNO. Norges Bank acquired a new position in shares of nCino in the 4th quarter worth approximately $25,336,000. Clearbridge Investments LLC lifted its holdings in shares of nCino by 96.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,072,724 shares of the company’s stock worth $36,076,000 after acquiring an additional 525,605 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of nCino by 20.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,034,908 shares of the company’s stock worth $34,807,000 after acquiring an additional 177,799 shares during the last quarter. Trust Co of the South acquired a new position in shares of nCino in the 4th quarter worth approximately $4,430,000. Finally, Nicholas Company Inc. acquired a new position in shares of nCino in the 4th quarter worth approximately $3,697,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Stock Performance

Shares of nCino stock traded up $0.23 on Tuesday, hitting $31.48. The stock had a trading volume of 829,837 shares, compared to its average volume of 961,475. nCino, Inc. has a 52-week low of $27.13 and a 52-week high of $37.48. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -101.55, a P/E/G ratio of 17.16 and a beta of 0.59. The company’s 50 day moving average price is $30.85 and its 200 day moving average price is $31.56.

nCino (NASDAQ:NCNO) last posted its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share for the quarter. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. The business had revenue of $128.09 million during the quarter, compared to the consensus estimate of $126.59 million. On average, research analysts anticipate that nCino, Inc. will post 0.08 EPS for the current year.

Insider Activity at nCino

In related news, Director Spencer Lake sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the transaction, the director now owns 7,791 shares in the company, valued at approximately $275,022.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other nCino news, Director Spencer Lake sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now owns 7,791 shares in the company, valued at approximately $275,022.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Pierre Naude sold 10,924 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 value of $375,894.84. Following the transaction, the chief executive officer now owns 1,159,395 shares in the company, valued at approximately $39,894,781.95. The disclosure for this sale can be found here. Insiders have sold 2,291,001 shares of company stock worth $72,225,056 in the last quarter. Company insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NCNO shares. Keefe, Bruyette & Woods started coverage on shares of nCino in a report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, June 26th. Piper Sandler reissued an “overweight” rating and set a $38.00 target price on shares of nCino in a research note on Monday. Morgan Stanley boosted 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. Finally, Robert W. Baird lowered their target price on nCino from $37.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.64.

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.