Northwestern Mutual Wealth Management Co. Buys 508 Shares of nCino, Inc. (NASDAQ:NCNO)

Northwestern Mutual Wealth Management Co. raised its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 3.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 14,602 shares of the company’s stock after purchasing an additional 508 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in nCino were worth $459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC purchased a new position in shares of nCino during the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of nCino in the first quarter worth about $52,000. Covestor Ltd grew its position in shares of nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after purchasing an additional 625 shares in the last quarter. Amalgamated Bank grew its position in shares of nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after purchasing an additional 1,134 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of nCino by 145.6% during the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after purchasing an additional 2,677 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Stock Up 3.2 %

NASDAQ NCNO opened at $31.09 on Wednesday. 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, Inc. has a 52 week low of $27.13 and a 52 week high of $37.48. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -100.29, a PEG ratio of 23.49 and a beta of 0.59. The company has a fifty day moving average of $31.36 and a two-hundred day moving average of $31.52.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 EPS 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 firm had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the previous year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, analysts predict that nCino, Inc. will post 0.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NCNO shares. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Tuesday, September 3rd. JMP Securities restated a “market outperform” rating and set a $43.00 target price on shares of nCino in a research report on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group upgraded 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 report on Wednesday, August 14th. Finally, Needham & Company LLC decreased their target price on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, nCino has an average rating of “Moderate Buy” and a consensus target price of $38.18.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 8,856 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $31.23, for a total value 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. 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. In other nCino news, insider April Rieger sold 8,856 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were 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 $5,177,652.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Horing sold 126,641 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $31.01, for a total transaction of $3,927,137.41. Following the transaction, the director now directly owns 19,386,826 shares in the company, valued at approximately $601,185,474.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,271,826 shares of company stock valued at $137,563,353. Insiders own 28.40% of the company’s stock.

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.