Rhumbline Advisers Grows Holdings in nCino, Inc. (NASDAQ:NCNO)

Rhumbline Advisers increased its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 19.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,426 shares of the company’s stock after purchasing an additional 15,362 shares during the period. Rhumbline Advisers owned 0.08% of nCino worth $2,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NCNO. Wasatch Advisors LP raised its holdings in nCino by 18.9% during the fourth quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after purchasing an additional 358,766 shares in the last quarter. Bamco Inc. NY raised its stake in shares of nCino by 83.7% during the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock worth $34,576,000 after buying an additional 421,500 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in shares of nCino in the 2nd quarter valued at approximately $3,530,000. Dimensional Fund Advisors LP boosted its stake in shares of nCino by 20.7% in the fourth 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 in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of nCino by 14.7% in the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock valued at $45,985,000 after buying an additional 157,470 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Stock Up 0.5 %

Shares of NASDAQ NCNO opened at $29.88 on Thursday. The firm’s 50 day moving average price is $31.85 and its 200 day moving average price is $31.41. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $3.44 billion, a P/E ratio of -96.39, a price-to-earnings-growth ratio of 22.77 and a beta of 0.58. nCino, Inc. has a 1 year low of $27.13 and a 1 year high of $37.48.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) earnings per share. As a group, sell-side analysts anticipate that nCino, Inc. will post 0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jeff Horing sold 800,002 shares of the firm’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 transaction, the director now directly owns 16,649,942 shares in the company, valued at approximately $552,112,076.72. The transaction was disclosed in a document filed 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 on 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 owns 16,649,942 shares of the company’s stock, valued at $552,112,076.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider April Rieger sold 8,856 shares of nCino 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 owns 165,791 shares in the company, valued at approximately $5,177,652.93. The disclosure for this sale can be found here. Insiders have sold a total of 4,741,422 shares of company stock valued at $152,380,666 over the last quarter. Company insiders own 28.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NCNO. Needham & Company LLC reduced their target price on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Piper Sandler reissued an “overweight” rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, August 28th. Truist Financial reaffirmed a “buy” rating and issued a $37.00 target price on shares of nCino in a report on Wednesday, August 28th. Finally, William Blair reissued an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.00.

About nCino

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.