Envestnet Asset Management Inc. Has $11.75 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Envestnet Asset Management Inc. grew its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 8.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 373,645 shares of the company’s stock after buying an additional 29,090 shares during the quarter. Envestnet Asset Management Inc. owned 0.32% of nCino worth $11,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors purchased a new stake in shares of nCino in the first quarter valued at about $60,703,000. Norges Bank purchased a new stake in nCino in the 4th quarter valued at about $25,336,000. Norden Group LLC lifted its position in shares of nCino by 2,388.5% during the 1st quarter. Norden Group LLC now owns 454,665 shares of the company’s stock worth $16,995,000 after buying an additional 436,394 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of nCino by 83.7% in the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock worth $34,576,000 after buying an additional 421,500 shares during the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of nCino by 18.9% in the fourth quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock valued at $75,777,000 after acquiring an additional 358,766 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Buying and Selling at nCino

In related news, Director Jeff Horing sold 921,614 shares of nCino stock in a transaction on Friday, July 26th. The shares were sold at an average price of $33.50, for a total transaction of $30,874,069.00. Following the transaction, the director now owns 17,552,574 shares in the company, valued at approximately $588,011,229. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other nCino news, Director Jeff Horing sold 921,614 shares of nCino stock in a transaction on Friday, July 26th. The shares were sold at an average price of $33.50, for a total value of $30,874,069.00. Following the sale, the director now directly owns 17,552,574 shares in the company, valued at approximately $588,011,229. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider April Rieger sold 8,856 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $31.23, for a total transaction of $276,572.88. Following the transaction, the insider now directly owns 165,791 shares of the company’s stock, valued at approximately $5,177,652.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,405,313 shares of company stock valued at $141,769,528. 28.40% of the stock is owned by company insiders.

nCino Stock Performance

Shares of NCNO stock opened at $30.04 on Thursday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -96.90, a price-to-earnings-growth ratio of 23.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino, Inc. has a one year low of $27.13 and a one year high of $37.48. The company’s 50-day moving average is $31.67 and its 200 day moving average is $31.45.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $132.40 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) earnings per share. Sell-side analysts expect that nCino, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Needham & Company LLC decreased their price target on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Truist Financial reissued a “buy” rating and set a $37.00 price objective on shares of nCino in a report on Wednesday, August 28th. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Finally, Macquarie reiterated an “outperform” rating and set a $40.00 price target on shares of nCino in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and an average price target of $38.00.

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.