Vanguard Group Inc. Sells 959 Shares of nCino, Inc. (NASDAQ:NCNO)

Vanguard Group Inc. reduced its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 0.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,974,332 shares of the company’s stock after selling 959 shares during the quarter. Vanguard Group Inc. owned about 6.16% of nCino worth $234,547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NCNO. Wasatch Advisors LP boosted its stake in nCino by 18.9% during the 4th quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after acquiring an additional 358,766 shares during the last quarter. Meritage Group LP grew its holdings in shares of nCino by 0.5% in the 4th quarter. Meritage Group LP now owns 1,711,126 shares of the company’s stock valued at $57,545,000 after buying an additional 8,157 shares during the period. Clearbridge Investments LLC grew its holdings in shares of nCino by 96.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,072,724 shares of the company’s stock valued at $36,076,000 after buying an additional 525,605 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of nCino by 20.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,034,908 shares of the company’s stock valued at $34,807,000 after buying an additional 177,799 shares during the period. Finally, Norges Bank bought a new stake in shares of nCino in the 4th quarter valued at $25,336,000. 94.76% of the stock is owned by institutional investors.

nCino Trading Down 0.6 %

Shares of NASDAQ:NCNO opened at $31.25 on Tuesday. The company’s 50-day moving average price is $30.83 and its two-hundred day moving average price is $31.56. nCino, Inc. has a one year low of $27.13 and a one year high of $37.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $3.60 billion, a PE ratio of -100.81, a price-to-earnings-growth ratio of 17.16 and a beta of 0.59.

nCino (NASDAQ:NCNO) last released its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $128.09 million for the quarter, compared to analyst estimates of $126.59 million. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. On average, equities analysts forecast that nCino, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeff Horing sold 1,871,828 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $31.51, for a total transaction of $58,981,300.28. Following the transaction, the director now directly owns 27,141,639 shares in the company, valued at $855,233,044.89. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Spencer Lake sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now directly owns 7,791 shares of the company’s stock, valued at $275,022.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeff Horing sold 1,871,828 shares of nCino stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $31.51, for a total value of $58,981,300.28. Following the transaction, the director now owns 27,141,639 shares of the company’s stock, valued at $855,233,044.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,291,001 shares of company stock valued at $72,225,056. 28.40% of the stock is owned by insiders.

Analysts Set New Price Targets

NCNO has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Monday. Stephens reiterated an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research report on Thursday, May 30th. Morgan Stanley lifted their price target on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Robert W. Baird reduced their price target on shares of nCino from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Finally, Keefe, Bruyette & Woods began coverage on shares of nCino in a research report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, nCino currently has an average rating of “Moderate Buy” and an average price target of $35.64.

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.