Natixis Advisors LLC Grows Holdings in nCino, Inc. (NASDAQ:NCNO)

Natixis Advisors LLC raised its stake in nCino, Inc. (NASDAQ:NCNO) by 5.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,711 shares of the company’s stock after buying an additional 822 shares during the quarter. Natixis Advisors LLC’s holdings in nCino were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NCNO. Victory Capital Management Inc. increased its holdings in shares of nCino by 15.0% during the third quarter. Victory Capital Management Inc. now owns 11,784 shares of the company’s stock valued at $372,000 after purchasing an additional 1,536 shares during the period. Olympiad Research LP acquired a new position in nCino during the third quarter worth about $789,000. Malaga Cove Capital LLC raised its position in nCino by 3.0% in the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after acquiring an additional 400 shares in the last quarter. Asset Management One Co. Ltd. raised its position in nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in nCino by 71.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 385,000 shares of the company’s stock worth $12,162,000 after acquiring an additional 160,000 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the transaction, the insider now directly owns 341,511 shares in the company, valued at $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Ruh sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the transaction, the director now owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock valued at $117,599,204 over the last 90 days. 28.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Macquarie reiterated an “outperform” rating and issued a $40.00 price target on shares of nCino in a research report on Wednesday, October 23rd. William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. 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 report on Tuesday, September 3rd. Truist Financial reaffirmed a “buy” rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

nCino Trading Down 0.9 %

Shares of NASDAQ NCNO opened at $41.88 on Friday. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -155.11, a PEG ratio of 35.00 and a beta of 0.55. The business has a 50 day simple moving average of $36.44 and a 200 day simple moving average of $33.21. nCino, Inc. has a 52 week low of $27.47 and a 52 week high of $43.20. 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 announced its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, research analysts predict that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

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.