The Manufacturers Life Insurance Company Purchases 3,233 Shares of nCino, Inc. (NASDAQ:NCNO)

The Manufacturers Life Insurance Company increased its position in nCino, Inc. (NASDAQ:NCNO) by 18.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,467 shares of the company’s stock after purchasing an additional 3,233 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in nCino were worth $644,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bamco Inc. NY raised 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 valued at $34,576,000 after buying an additional 421,500 shares in the last quarter. Simplicity Wealth LLC bought a new position in nCino during the second quarter worth about $3,530,000. Clearbridge Investments LLC boosted its holdings in nCino by 14.7% during the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock valued at $45,985,000 after purchasing an additional 157,470 shares in the last quarter. Motley Fool Asset Management LLC bought a new stake in shares of nCino in the 1st quarter valued at approximately $1,175,000. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of nCino by 18.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 454,249 shares of the company’s stock worth $16,980,000 after buying an additional 71,744 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeff Horing sold 800,002 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total value of $26,528,066.32. Following the transaction, the director now owns 16,649,942 shares of the company’s stock, valued at $552,112,076.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jeff Horing sold 800,002 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was 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 of the company’s stock, valued at $552,112,076.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Insight Holdings Group, Llc sold 16,882 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $33.11, for a total transaction of $558,963.02. Following the completion of the sale, the director now owns 1,381,929 shares in the company, valued at $45,755,669.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,154,815 shares of company stock valued at $71,774,188. Company insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of analyst reports. Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of nCino in a research report on Wednesday, August 28th. William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Raymond James raised shares of 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. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.18.

nCino Trading Down 0.1 %

Shares of NCNO opened at $35.05 on Wednesday. The stock’s fifty day simple moving average is $31.60 and its 200-day simple moving average is $31.51. The firm has a market capitalization of $4.03 billion, a PE ratio of -113.06, a price-to-earnings-growth ratio of 26.59 and a beta of 0.59. nCino, Inc. has a 12-month low of $27.13 and a 12-month high of $37.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $131.06 million. During the same quarter last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts predict that nCino, Inc. will post 0.05 earnings per share for the current 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.