Sanctuary Advisors LLC Invests $189,000 in nCino, Inc. (NASDAQ:NCNO)

Sanctuary Advisors LLC purchased a new position in shares of nCino, Inc. (NASDAQ:NCNO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,994 shares of the company’s stock, valued at approximately $189,000.

Several other institutional investors have also recently modified their holdings of the stock. Asset Management One Co. Ltd. raised its position in shares of nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares during the last quarter. Malaga Cove Capital LLC raised its position in shares of nCino by 3.0% during the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after purchasing an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of nCino by 3.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after purchasing an additional 508 shares during the last quarter. Precision Wealth Strategies LLC raised its position in shares of nCino by 4.5% during the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after purchasing an additional 589 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of nCino by 5.9% during the 3rd quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock worth $465,000 after purchasing an additional 822 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Stock Down 2.5 %

Shares of nCino stock opened at $33.56 on Tuesday. The company has a fifty day moving average price of $38.58 and a 200 day moving average price of $34.21. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -197.40, a price-to-earnings-growth ratio of 16.39 and a beta of 0.59.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird cut their price target on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. UBS Group assumed coverage on nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 price target for the company. Needham & Company LLC boosted their price target on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Macquarie boosted their price target on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Buying and Selling

In related news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the transaction, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,418,237 shares of company stock valued at $340,474,175. Company 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.