32,000 Shares in nCino, Inc. (NASDAQ:NCNO) Bought by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC purchased a new position in nCino, Inc. (NASDAQ:NCNO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,000 shares of the company’s stock, valued at approximately $1,196,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in nCino by 29.6% in the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after purchasing an additional 625 shares during the period. Parkwood LLC grew its stake in nCino by 6.7% in the fourth quarter. Parkwood LLC now owns 10,400 shares of the company’s stock worth $350,000 after purchasing an additional 655 shares during the period. Mesirow Institutional Investment Management Inc. grew its stake in nCino by 6.1% in the first quarter. Mesirow Institutional Investment Management Inc. now owns 12,422 shares of the company’s stock worth $464,000 after purchasing an additional 719 shares during the period. Oppenheimer Asset Management Inc. grew its stake in nCino by 8.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 10,084 shares of the company’s stock worth $377,000 after purchasing an additional 800 shares during the period. Finally, Precision Wealth Strategies LLC grew its stake in shares of nCino by 7.3% in the first quarter. Precision Wealth Strategies LLC now owns 11,894 shares of the company’s stock worth $445,000 after acquiring an additional 809 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Robert W. Baird cut their target price on nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of nCino in a research note on Thursday, May 30th. William Blair reissued an “outperform” rating on shares of nCino in a research note on Wednesday, June 26th. Keefe, Bruyette & Woods assumed coverage on nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 target price on the stock. Finally, JMP Securities assumed coverage on nCino in a research note on Monday, July 22nd. They issued an “outperform” rating and a $43.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, nCino has an average rating of “Moderate Buy” and a consensus target price of $36.64.

Insider Buying and Selling at nCino

In other nCino news, Director Jeff Horing sold 921,614 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $33.50, for a total value of $30,874,069.00. Following the transaction, the director now owns 17,552,574 shares of the company’s stock, valued at $588,011,229. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Jeanette Sellers sold 2,153 shares of the firm’s 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 transaction, the vice president now owns 27,360 shares of the company’s stock, valued at $829,828.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeff Horing sold 921,614 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $33.50, for a total value of $30,874,069.00. Following the completion of the transaction, the director now directly owns 17,552,574 shares in the company, valued at approximately $588,011,229. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,852,933 shares of company stock valued at $185,990,517. 28.40% of the stock is owned by company insiders.

nCino Stock Performance

Shares of nCino stock traded down $0.09 during trading on Wednesday, hitting $32.76. 578,790 shares of the company’s stock traded hands, compared to its average volume of 998,838. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 1.07. nCino, Inc. has a 1 year low of $27.13 and a 1 year high of $37.48. The stock has a market capitalization of $3.77 billion, a P/E ratio of -105.67, a PEG ratio of 18.05 and a beta of 0.59. The business has a 50-day simple moving average of $31.41 and a 200-day simple moving average of $31.34.

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 company had revenue of $128.09 million for the quarter, compared to the consensus estimate of $126.59 million. As a group, analysts forecast that nCino, Inc. will post 0.08 EPS 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.