Summit Trail Advisors LLC Acquires 46,890 Shares of nCino, Inc. (NASDAQ:NCNO)

Summit Trail Advisors LLC boosted its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 471.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,845 shares of the company’s stock after purchasing an additional 46,890 shares during the period. Summit Trail Advisors LLC’s holdings in nCino were worth $1,788,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in nCino during the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. bought a new position in nCino during the first quarter worth about $52,000. Covestor Ltd lifted its stake in nCino by 29.6% during 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. Lazard Asset Management LLC increased its holdings in shares of nCino by 145.6% during the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after buying an additional 2,677 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of nCino during the fourth quarter worth approximately $171,000. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NCNO shares. Truist Financial reaffirmed a “buy” rating and set a $37.00 price objective on shares of nCino in a report on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and set a $40.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 800,002 shares of nCino stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the completion of the sale, the director now owns 16,649,942 shares of the company’s stock, valued at approximately $552,112,076.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other nCino news, Director Jeff Horing sold 800,002 shares of nCino stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the completion of the sale, the director now owns 16,649,942 shares of the company’s stock, valued at approximately $552,112,076.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Insight Holdings Group, Llc sold 16,882 shares of nCino stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.11, for a total transaction of $558,963.02. Following the transaction, the director now directly owns 1,381,929 shares in the company, valued at $45,755,669.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,546,130 shares of company stock valued at $146,209,438. Company insiders own 28.40% of the company’s stock.

nCino Stock Performance

Shares of nCino stock opened at $30.44 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $3.50 billion, a P/E ratio of -98.19, a P/E/G ratio of 22.77 and a beta of 0.58. The firm has a 50 day simple moving average of $31.79 and a 200 day simple moving average of $31.40. nCino, Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $37.48.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. During the same quarter last year, the business posted ($0.02) earnings per share. nCino’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts predict that nCino, Inc. will post 0.06 earnings per share for the current fiscal 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.