Brown Capital Management LLC Sells 403,675 Shares of nCino, Inc. (NASDAQ:NCNO)

Brown Capital Management LLC lessened its holdings in nCino, Inc. (NASDAQ:NCNO) by 14.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,431,041 shares of the company’s stock after selling 403,675 shares during the period. nCino comprises approximately 1.7% of Brown Capital Management LLC’s holdings, making the stock its 20th biggest position. Brown Capital Management LLC’s holdings in nCino were worth $76,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bamco Inc. NY raised its position in nCino by 83.7% in the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock worth $34,576,000 after acquiring an additional 421,500 shares during the period. Simplicity Wealth LLC bought a new position in nCino in the 2nd quarter worth $3,530,000. Select Equity Group L.P. raised its holdings in nCino by 182.0% in the 2nd 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 period. Vanderbilt University lifted its position in nCino by 192.3% during the third quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after purchasing an additional 92,481 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its holdings in nCino by 18.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 454,249 shares of the company’s stock valued at $16,980,000 after purchasing an additional 71,744 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares in the company, valued at approximately $9,705,064.60. This represents a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred 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 approximately $8,482,537.50. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,235,582 shares of company stock valued at $117,618,559 in the last ninety days. Company insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Truist Financial reissued a “buy” rating and issued a $44.00 price objective (up from $37.00) on shares of nCino in a research note on Monday, October 21st. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Needham & Company LLC decreased their price target on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, nCino currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.82.

nCino Price Performance

NCNO opened at $40.08 on Thursday. The stock has a fifty day moving average price of $35.23 and a 200-day moving average price of $32.84. nCino, Inc. has a 12 month low of $27.47 and a 12 month high of $43.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. As a group, equities research analysts expect that nCino, Inc. will post 0.05 earnings per share for the current year.

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.