Amalgamated Bank Purchases 1,134 Shares of nCino, Inc. (NASDAQ:NCNO)

Amalgamated Bank increased its holdings in nCino, Inc. (NASDAQ:NCNO) by 28.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,174 shares of the company’s stock after purchasing an additional 1,134 shares during the quarter. Amalgamated Bank’s holdings in nCino were worth $163,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Bank & Trust lifted its stake in nCino by 5.7% in the second quarter. First Bank & Trust now owns 10,188 shares of the company’s stock valued at $320,000 after buying an additional 546 shares during the period. Covestor Ltd increased its position in nCino by 29.6% in the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after buying an additional 625 shares in the last quarter. Parkwood LLC raised its stake in nCino by 6.7% during the 4th quarter. Parkwood LLC now owns 10,400 shares of the company’s stock worth $350,000 after buying an additional 655 shares during the period. Mesirow Institutional Investment Management Inc. raised its position in shares of nCino by 6.1% during the first quarter. Mesirow Institutional Investment Management Inc. now owns 12,422 shares of the company’s stock worth $464,000 after purchasing an additional 719 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of nCino by 8.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,084 shares of the company’s stock worth $377,000 after purchasing an additional 800 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Stock Performance

Shares of NCNO opened at $31.11 on Wednesday. The stock has a 50 day moving average of $31.55 and a 200 day moving average of $31.50. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of -100.35, a PEG ratio of 23.49 and a beta of 0.58. nCino, Inc. has a 12 month low of $27.13 and a 12 month high of $37.48. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last announced 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. The firm had revenue of $132.40 million during the quarter, compared to analyst estimates 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 was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) EPS. As a group, sell-side analysts forecast that nCino, Inc. will post 0.06 earnings per share for the current year.

Insider Buying and Selling at nCino

In related news, Director Jeff Horing sold 921,614 shares of nCino stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $33.50, for a total value of $30,874,069.00. Following the sale, the director now owns 17,552,574 shares of the company’s stock, valued at approximately $588,011,229. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeff Horing sold 921,614 shares of nCino stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $33.50, for a total value of $30,874,069.00. Following the completion of the sale, the director now owns 17,552,574 shares of the company’s stock, valued at approximately $588,011,229. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider April Rieger sold 8,856 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $31.23, for a total transaction of $276,572.88. Following the sale, the insider now directly owns 165,791 shares in the company, valued at $5,177,652.93. The disclosure for this sale can be found here. Insiders have sold a total of 4,271,826 shares of company stock worth $137,563,353 over the last three months. 28.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on NCNO. Needham & Company LLC lowered their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock 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 target price for the company in a research report on Tuesday, September 3rd. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Stephens reissued an “equal weight” rating and set a $35.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, JMP Securities restated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average target price of $38.18.

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.