nCino, Inc. (NASDAQ:NCNO) Stake Increased by US Bancorp DE

US Bancorp DE increased its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 21.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,981 shares of the company’s stock after purchasing an additional 8,342 shares during the quarter. US Bancorp DE’s holdings in nCino were worth $1,484,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of NCNO. Bamco Inc. NY boosted its holdings in nCino by 83.7% during the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after acquiring an additional 421,500 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of nCino during the 2nd quarter worth about $3,530,000. Clearbridge Investments LLC boosted its holdings in shares of nCino by 14.7% in the 1st quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock worth $45,985,000 after acquiring an additional 157,470 shares in the last quarter. Select Equity Group L.P. grew its holdings in shares of nCino by 182.0% during the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after purchasing an additional 16,416 shares during the last quarter. Finally, Motley Fool Asset Management LLC acquired a new stake in nCino in the 1st quarter valued at about $1,175,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on NCNO shares. JMP Securities reissued a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of nCino in a research report on Wednesday, August 28th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC dropped their target price on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Finally, Truist Financial reaffirmed a “buy” rating and set a $44.00 price target (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.82.

Insider Activity at nCino

In other news, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the sale, the director now owns 226,201 shares in the company, valued at $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other nCino news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the transaction, the director now directly owns 226,201 shares of the company’s stock, valued at $8,482,537.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the sale, the insider now owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,035,584 shares of company stock worth $144,146,625 in the last quarter. Company insiders own 28.40% of the company’s stock.

nCino Trading Up 4.6 %

NASDAQ:NCNO opened at $41.99 on Friday. nCino, Inc. has a 52 week low of $27.47 and a 52 week high of $42.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s fifty day moving average is $33.20 and its 200-day moving average is $32.12. The firm has a market cap of $4.85 billion, a P/E ratio of -155.51, a P/E/G ratio of 30.53 and a beta of 0.55.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts expect that nCino, Inc. will post 0.05 earnings per share for the current year.

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.