Daiwa Securities Group Inc. Has $2.75 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Daiwa Securities Group Inc. reduced its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,885 shares of the company’s stock after selling 9,300 shares during the quarter. Daiwa Securities Group Inc.’s holdings in nCino were worth $2,745,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Long Path Partners LP raised its stake in nCino by 151.1% during the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after acquiring an additional 1,558,529 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in nCino in the 2nd quarter valued at approximately $41,805,000. Senator Investment Group LP acquired a new stake in nCino in the second quarter valued at approximately $40,885,000. ShawSpring Partners LLC acquired a new stake in nCino in the second quarter valued at approximately $38,663,000. Finally, Millennium Management LLC grew its stake in shares of nCino by 438.3% during the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after buying an additional 1,182,452 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other nCino news, Director William J. Ruh sold 10,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the transaction, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Desmond sold 30,000 shares of the business’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 value of $1,043,100.00. Following the sale, the insider now owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,235,029 shares of company stock worth $117,599,204. Corporate insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the topic of several recent research reports. Stephens reissued an “equal weight” rating and set a $35.00 price objective on shares of nCino in a report on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and set a $38.00 price target on shares of nCino in a research note on Wednesday, August 28th. 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. Macquarie reiterated an “outperform” rating and issued a $40.00 price objective on shares of nCino in a report on Wednesday, October 23rd. Finally, Needham & Company LLC reduced their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.25.

nCino Stock Performance

Shares of NCNO opened at $41.88 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm’s fifty day simple moving average is $36.20 and its two-hundred day simple moving average is $33.15. nCino, Inc. has a 12 month low of $27.47 and a 12 month high of $43.20. The stock has a market capitalization of $4.84 billion, a P/E ratio of -155.22, a price-to-earnings-growth ratio of 35.00 and a beta of 0.55.

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