nCino, Inc. (NASDAQ:NCNO) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 25.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,674 shares of the company’s stock after acquiring an additional 2,590 shares during the period. Oppenheimer Asset Management Inc.’s holdings in nCino were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NCNO. Vanguard Group Inc. boosted its position in shares of nCino by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after purchasing an additional 148,390 shares during the period. Wasatch Advisors LP boosted its position in shares of 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 buying an additional 358,766 shares during the period. Meritage Group LP grew its stake in shares of nCino by 2.3% in the first quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after buying an additional 39,828 shares in the last quarter. Capital International Investors purchased a new stake in shares of nCino in the 1st quarter valued at $60,703,000. Finally, Clearbridge Investments LLC lifted its stake in nCino by 14.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock worth $45,985,000 after acquiring an additional 157,470 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at nCino

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 directly owns 165,791 shares of the company’s stock, valued at approximately $5,177,652.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nCino news, insider April Rieger sold 8,856 shares of nCino stock in a transaction that occurred on Monday, July 15th. The stock was 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 of the company’s stock, valued at $5,177,652.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Insight Holdings Group, Llc sold 138,319 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $31.53, for a total value of $4,361,198.07. Following the completion of the sale, the director now directly owns 135,015 shares of the company’s stock, valued at $4,257,022.95. The disclosure for this sale can be found here. Insiders sold 4,546,130 shares of company stock worth $146,209,438 over the last 90 days. Corporate insiders own 28.40% of the company’s stock.

nCino Price Performance

Shares of NASDAQ NCNO opened at $30.44 on Friday. The stock’s 50-day simple moving average is $31.79 and its 200-day simple moving average is $31.40. The firm has a market capitalization of $3.50 billion, a PE ratio of -98.19, a price-to-earnings-growth ratio of 22.77 and a beta of 0.58. nCino, Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $37.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $131.06 million. During the same quarter last year, the company earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts forecast that nCino, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NCNO shares. Needham & Company LLC dropped their target price on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Macquarie restated an “outperform” rating and issued a $40.00 price objective on shares of nCino in a report on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and set a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Piper Sandler restated an “overweight” rating and issued a $38.00 price target on shares of nCino in a research note on Wednesday, August 28th. Finally, Raymond James upgraded 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. Three 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.