Wallace Advisory Group LLC Acquires 1,301 Shares of nCino, Inc. (NASDAQ:NCNO)

Wallace Advisory Group LLC increased its stake in nCino, Inc. (NASDAQ:NCNO) by 16.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 9,151 shares of the company’s stock after buying an additional 1,301 shares during the quarter. Wallace Advisory Group LLC’s holdings in nCino were worth $288,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in nCino in the second quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. bought a new position in nCino during the first quarter valued at $52,000. Covestor Ltd increased its position in nCino by 29.6% in the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after buying an additional 625 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of nCino by 145.6% in the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after buying an additional 2,677 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of nCino during the 4th quarter valued at $171,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NCNO shares. William Blair reiterated an “outperform” rating on shares of nCino in a research 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. Macquarie reissued an “outperform” rating and set a $40.00 target price on shares of nCino in a report on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $38.00 target price on shares of nCino in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.18.

Insider Activity

In related news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $31.08, for a total value of $61,585,455.12. Following the completion of the sale, the director now owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider April Rieger sold 8,856 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $31.23, for a total value of $276,572.88. Following the completion of the sale, the insider now owns 165,791 shares of the company’s stock, valued at approximately $5,177,652.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Insight Holdings Group, Llc sold 1,981,514 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $31.08, for a total value of $61,585,455.12. Following the transaction, the director now owns 1,545,347 shares in the company, valued at $48,029,384.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,271,826 shares of company stock worth $137,563,353. 28.40% of the stock is currently owned by insiders.

nCino Trading Up 1.0 %

Shares of NCNO opened at $31.59 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. nCino, Inc. has a 1-year low of $27.13 and a 1-year high of $37.48. The company has a market capitalization of $3.64 billion, a P/E ratio of -101.90, a P/E/G ratio of 23.49 and a beta of 0.58. The firm’s 50 day simple moving average is $31.60 and its 200 day simple moving average is $31.49.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. During the same period in the previous year, the business earned ($0.02) earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts forecast 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.