Edgestream Partners L.P. Takes Position in nCino, Inc. (NASDAQ:NCNO)

Edgestream Partners L.P. acquired a new stake in shares of nCino, Inc. (NASDAQ:NCNO) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 31,943 shares of the company’s stock, valued at approximately $1,005,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in nCino by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,240 shares of the company’s stock valued at $43,031,000 after purchasing an additional 135,395 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of nCino during the second quarter valued at approximately $41,805,000. Diversify Wealth Management LLC bought a new stake in shares of nCino during the second quarter valued at approximately $2,725,000. Envestnet Asset Management Inc. raised its holdings in nCino by 8.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 373,645 shares of the company’s stock worth $11,751,000 after acquiring an additional 29,090 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in nCino by 25.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,674 shares of the company’s stock valued at $399,000 after acquiring an additional 2,590 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Stock Down 0.9 %

NCNO opened at $30.44 on Friday. The firm’s 50 day simple moving average is $31.79 and its two-hundred day simple moving average is $31.40. The company has a market capitalization of $3.50 billion, a PE ratio of -98.19, a PEG 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. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same period last year, the firm earned ($0.02) EPS. nCino’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts forecast that nCino, Inc. will post 0.06 EPS for the current year.

Insider Activity at nCino

In other nCino news, Director Insight Holdings Group, Llc sold 2,498 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $31.51, for a total transaction of $78,711.98. Following the sale, the director now owns 2,025,991 shares in the company, valued at approximately $63,838,976.41. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jeff Horing sold 133,487 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $31.51, for a total value of $4,206,175.37. Following the completion of the transaction, the director now owns 24,879,980 shares of the company’s stock, valued at $783,968,169.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Insight Holdings Group, Llc sold 2,498 shares of nCino stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $31.51, for a total value of $78,711.98. Following the sale, the director now directly owns 2,025,991 shares in the company, valued at approximately $63,838,976.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,546,130 shares of company stock worth $146,209,438. 28.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on NCNO shares. William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price on shares of nCino in a research report on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $37.00 target price on shares of nCino in a research note on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.00.

nCino 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.