Eagle Asset Management Inc. lowered its position in nCino, Inc. (NASDAQ:NCNO – Get Rating) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,486 shares of the company's stock after selling 3,931 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.18% of nCino worth $6,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC boosted its stake in nCino by 2.8% in the third quarter. SG Americas Securities LLC now owns 12,026 shares of the company's stock worth $410,000 after buying an additional 324 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in nCino by 9.7% in the second quarter. Advisors Asset Management Inc. now owns 3,760 shares of the company's stock worth $116,000 after buying an additional 331 shares in the last quarter. FirstPurpose Wealth LLC boosted its stake in nCino by 0.3% in the third quarter. FirstPurpose Wealth LLC now owns 148,588 shares of the company's stock worth $5,068,000 after buying an additional 383 shares in the last quarter. Commerce Bank boosted its stake in nCino by 6.3% in the third quarter. Commerce Bank now owns 8,027 shares of the company's stock worth $274,000 after buying an additional 477 shares in the last quarter. Finally, Spire Wealth Management lifted its position in nCino by 69.7% in the third quarter. Spire Wealth Management now owns 1,310 shares of the company's stock valued at $45,000 after purchasing an additional 538 shares during the last quarter. Hedge funds and other institutional investors own 88.69% of the company's stock.
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In other nCino news, insider Matthew Royce Hansen sold 6,134 shares of the stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $26.16, for a total value of $160,465.44. Following the completion of the transaction, the insider now owns 148,425 shares in the company, valued at $3,882,798. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 37.20% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Needham & Company LLC lowered their price objective on nCino from $42.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, December 1st. Stephens lowered their price objective on nCino to $30.00 in a research report on Friday, December 2nd. Robert W. Baird upgraded nCino from a "neutral" rating to an "outperform" rating and set a $35.00 price objective for the company in a research report on Wednesday, December 14th. Scotiabank assumed coverage on nCino in a research report on Monday, October 31st. They issued a "sector outperform" rating and a $42.00 price objective for the company. Finally, KeyCorp lowered their price objective on nCino from $35.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, December 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.27.nCino Trading Up 3.6 %
NCNO opened at $31.04 on Friday. The stock has a fifty day simple moving average of $26.47 and a two-hundred day simple moving average of $30.16. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -38.32 and a beta of 0.36. nCino, Inc. has a 12-month low of $22.97 and a 12-month high of $55.40.
nCino (NASDAQ:NCNO – Get Rating) last posted its quarterly earnings data on Wednesday, November 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. The business had revenue of $105.30 million during the quarter, compared to the consensus estimate of $103.45 million. nCino had a negative return on equity of 15.41% and a negative net margin of 23.69%. On average, analysts predict that nCino, Inc. will post -0.63 EPS for the current year.
nCino Company Profile
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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, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.
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