Commonwealth Equity Services LLC Sells 835 Shares of nCino, Inc. (NASDAQ:NCNO)

Commonwealth Equity Services LLC lessened its position in nCino, Inc. (NASDAQ:NCNO) by 5.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,029 shares of the company’s stock after selling 835 shares during the period. Commonwealth Equity Services LLC’s holdings in nCino were worth $441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Bank & Trust lifted its stake in shares of nCino by 5.7% in the second quarter. First Bank & Trust now owns 10,188 shares of the company’s stock worth $320,000 after buying an additional 546 shares in the last quarter. Covestor Ltd lifted its position in nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after purchasing an additional 625 shares during the period. Parkwood LLC lifted its position in nCino by 6.7% during the fourth quarter. Parkwood LLC now owns 10,400 shares of the company’s stock valued at $350,000 after purchasing an additional 655 shares during the period. Mesirow Institutional Investment Management Inc. lifted its position in nCino by 6.1% during the first quarter. Mesirow Institutional Investment Management Inc. now owns 12,422 shares of the company’s stock valued at $464,000 after purchasing an additional 719 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in nCino by 8.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 10,084 shares of the company’s stock valued at $377,000 after purchasing an additional 800 shares during the period. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 8,856 shares of the stock in a transaction on 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 $5,177,652.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Jeff Horing sold 800,002 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $33.16, for a total value of $26,528,066.32. Following the completion of the sale, the director now directly owns 16,649,942 shares in the company, valued at $552,112,076.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the sale, the insider now owns 165,791 shares of the company’s stock, valued at $5,177,652.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,546,130 shares of company stock valued at $146,209,438. Corporate insiders own 28.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. JMP Securities restated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Robert W. Baird lowered their price objective on shares of nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

nCino Trading Down 0.9 %

Shares of nCino stock opened at $30.44 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino, Inc. has a 12-month low of $27.13 and a 12-month high of $37.48. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -98.19, a PEG ratio of 22.77 and a beta of 0.58. The firm’s 50 day simple moving average is $31.79 and its two-hundred day simple moving average is $31.40.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $132.40 million for 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 business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. Analysts predict that nCino, Inc. will post 0.06 EPS for the current year.

nCino Company 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.