First Horizon Advisors Inc. Sells 399 Shares of nCino, Inc. (NASDAQ:NCNO)

First Horizon Advisors Inc. lowered its stake in nCino, Inc. (NASDAQ:NCNO) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,386 shares of the company’s stock after selling 399 shares during the quarter. First Horizon Advisors Inc.’s holdings in nCino were worth $80,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NCNO. Conestoga Capital Advisors LLC bought a new position in nCino in the fourth quarter valued at approximately $70,256,000. ShawSpring Partners LLC lifted its stake in nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after buying an additional 1,424,349 shares in the last quarter. Long Path Partners LP lifted its stake in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after buying an additional 1,131,271 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after buying an additional 828,124 shares in the last quarter. Finally, American Capital Management Inc. lifted its stake in nCino by 348.9% in the third quarter. American Capital Management Inc. now owns 1,029,725 shares of the company’s stock valued at $32,529,000 after buying an additional 800,317 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Scotiabank boosted their target price on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Macquarie upped their price objective on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stephens upped their price objective on shares of nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.00 price objective on shares of nCino in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average target price of $42.50.

nCino Trading Down 0.5 %

NCNO opened at $31.11 on Thursday. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. The company has a 50-day simple moving average of $33.45 and a 200 day simple moving average of $34.61. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -182.99, a P/E/G ratio of 5.77 and a beta of 0.65.

Insider Buying and Selling

In other news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the transaction, the chief executive officer now owns 306,477 shares of the company’s stock, valued at approximately $9,991,150.20. This represents a 1.62 % 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. Also, Director Jeff Horing sold 4,474,158 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $35.75, for a total transaction of $159,951,148.50. Following the completion of the transaction, the director now directly owns 4,513,467 shares of the company’s stock, valued at $161,356,445.25. This trade represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,270,085 shares of company stock valued at $225,838,863 over the last quarter. 28.40% of the stock is owned by company insiders.

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.