nCino, Inc. (NASDAQ:NCNO) Holdings Boosted by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its position in shares of nCino, Inc. (NASDAQ:NCNO) by 471.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,845 shares of the company’s stock after purchasing an additional 46,890 shares during the period. Summit Trail Advisors LLC’s holdings in nCino were worth $1,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in nCino during the 2nd quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in nCino during the 1st quarter worth approximately $52,000. Covestor Ltd grew its position in nCino by 29.6% during the 1st 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 nCino by 28.1% during the 2nd 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 nCino by 145.6% during the 1st 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. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Stock Down 0.9 %

nCino stock opened at $30.44 on Friday. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -98.19, a P/E/G ratio of 22.77 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. nCino, Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $37.48. The firm has a fifty day moving average price of $31.79 and a two-hundred day moving average price of $31.40.

nCino (NASDAQ:NCNO) last released its earnings results 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. The firm had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) EPS. As a group, analysts forecast that nCino, Inc. will post 0.06 earnings per share for the current year.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 921,614 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $33.50, for a total transaction of $30,874,069.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jeff Horing sold 921,614 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 17,552,574 shares in the company, valued at $588,011,229. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider April Rieger sold 8,856 shares of the 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 completion of the sale, the insider now owns 165,791 shares of the company’s stock, valued at approximately $5,177,652.93. The disclosure for this sale can be found here. Insiders sold a total of 4,546,130 shares of company stock valued at $146,209,438 in the last quarter. Insiders own 28.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $43.00 price target on shares of nCino in a report on Wednesday, August 28th. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and boosted their price target for the company from $34.00 to $42.00 in a report on Wednesday, August 14th. Truist Financial restated a “buy” rating and set a $37.00 price target on shares of nCino in a report on Wednesday, August 28th. Piper Sandler restated an “overweight” rating and set a $38.00 price target on shares of nCino in a report on Wednesday, August 28th. Finally, Robert W. Baird lowered their price target on shares of nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.