Bleakley Financial Group LLC Lowers Holdings in nCino, Inc. (NASDAQ:NCNO)

Bleakley Financial Group LLC reduced its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 33.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,872 shares of the company’s stock after selling 37,362 shares during the period. Bleakley Financial Group LLC’s holdings in nCino were worth $2,365,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bamco Inc. NY boosted its holdings in shares of nCino by 83.7% in the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after purchasing an additional 421,500 shares during the last quarter. Simplicity Wealth LLC purchased a new position in shares of nCino in the 2nd quarter worth $3,530,000. Clearbridge Investments LLC boosted its holdings in nCino by 14.7% in the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock valued at $45,985,000 after acquiring an additional 157,470 shares during the last quarter. Select Equity Group L.P. grew its position in nCino by 182.0% during the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after acquiring an additional 16,416 shares during the period. Finally, Motley Fool Asset Management LLC acquired a new stake in nCino during the first quarter worth about $1,175,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Horing sold 1,356,721 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $36.02, for a total transaction of $48,869,090.42. Following the completion of the sale, the director now directly owns 14,656,746 shares of the company’s stock, valued at approximately $527,935,990.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,545,869 shares of company stock worth $121,838,227 in the last three months. 28.40% of the stock is owned by insiders.

nCino Trading Up 1.0 %

NASDAQ NCNO opened at $36.58 on Friday. 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 has a 50-day simple moving average of $31.86 and a 200-day simple moving average of $31.58. The firm has a market capitalization of $4.21 billion, a PE ratio of -118.00, a price-to-earnings-growth ratio of 26.59 and a beta of 0.59.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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 positive return on equity of 1.06% and a negative net margin of 5.78%. nCino’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. On average, equities analysts forecast that nCino, Inc. will post 0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 3rd. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, nCino currently has an average rating of “Moderate Buy” and an average target price of $38.18.

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.