nCino, Inc. (NASDAQ:NCNO) Shares Acquired by Covestor Ltd

Covestor Ltd grew its stake in nCino, Inc. (NASDAQ:NCNO) by 29.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,736 shares of the company’s stock after purchasing an additional 625 shares during the period. Covestor Ltd’s holdings in nCino were worth $102,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Benjamin F. Edwards & Company Inc. acquired a new position in nCino during the first quarter worth $52,000. Advisory Services Network LLC acquired a new stake in nCino in the fourth quarter valued at $171,000. Nomura Holdings Inc. acquired a new stake in nCino in the fourth quarter valued at $211,000. Principal Financial Group Inc. acquired a new stake in nCino in the first quarter valued at $220,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in nCino in the fourth quarter valued at $228,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Transactions at nCino

In other news, VP Jeanette Sellers sold 2,153 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $30.33, for a total value of $65,300.49. Following the completion of the sale, the vice president now owns 27,360 shares in the company, valued at $829,828.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Jeanette Sellers sold 2,153 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $30.33, for a total value of $65,300.49. Following the completion of the sale, the vice president now owns 27,360 shares in the company, valued at $829,828.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeff Horing sold 126,641 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $31.01, for a total value of $3,927,137.41. Following the completion of the sale, the director now owns 19,386,826 shares of the company’s stock, valued at approximately $601,185,474.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,515,555 shares of company stock worth $141,322,714 in the last three months. 28.40% of the stock is currently owned by company insiders.

nCino Trading Up 1.0 %

Shares of nCino stock traded up $0.34 during trading hours on Tuesday, reaching $33.48. The stock had a trading volume of 1,188,042 shares, compared to its average volume of 986,291. The firm has a 50 day simple moving average of $31.25 and a two-hundred day simple moving average of $31.42. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -106.90, a P/E/G ratio of 17.45 and a beta of 0.59. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10. nCino, Inc. has a 1 year low of $27.13 and a 1 year high of $37.48.

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

Wall Street Analysts Forecast Growth

NCNO has been the topic of several recent research reports. Stephens restated an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research report on Thursday, May 30th. Morgan Stanley increased their target price on nCino from $27.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, June 26th. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price on shares of nCino in a research report on Monday, July 1st. Finally, JMP Securities initiated coverage on nCino in a research report on Monday. They set an “outperform” rating and a $43.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and a consensus target price of $36.64.

nCino Company 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.