Malaga Cove Capital LLC Grows Position in nCino, Inc. (NASDAQ:NCNO)

Malaga Cove Capital LLC increased its position in nCino, Inc. (NASDAQ:NCNO) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,614 shares of the company’s stock after purchasing an additional 400 shares during the period. Malaga Cove Capital LLC’s holdings in nCino were worth $430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital International Investors bought a new stake in nCino during the first quarter worth about $60,703,000. Long Path Partners LP lifted its holdings in shares of nCino by 151.1% during the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $81,460,000 after purchasing an additional 1,558,529 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of nCino during the second quarter valued at approximately $41,805,000. Senator Investment Group LP bought a new stake in shares of nCino in the 2nd quarter worth approximately $40,885,000. Finally, ShawSpring Partners LLC purchased a new stake in shares of nCino in the 2nd quarter worth approximately $38,663,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NCNO. Piper Sandler reiterated an “overweight” rating and set a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Needham & Company LLC lowered their price target on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Macquarie reissued an “outperform” rating and set a $40.00 price objective on shares of nCino in a research report on Wednesday, October 23rd. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Finally, Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.82.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $40.15 on Thursday. The firm’s 50-day moving average price is $32.97 and its 200-day moving average price is $32.05. nCino, Inc. has a 52-week low of $27.47 and a 52-week high of $40.60. The company has a market cap of $4.64 billion, a PE ratio of -148.70, a PEG ratio of 30.53 and a beta of 0.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last issued its 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 company had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) earnings per share. As a group, analysts anticipate that nCino, Inc. will post 0.05 EPS for the current year.

Insider Transactions at nCino

In related news, Director William J. Ruh sold 10,000 shares of the company’s stock in a transaction 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 approximately $8,482,537.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director William J. Ruh sold 10,000 shares of the business’s 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 completion of the sale, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,035,584 shares of company stock worth $144,146,625 in the last ninety days. Insiders own 28.40% of the company’s stock.

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.