nCino, Inc. (NASDAQ:NCNO) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. cut its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,894 shares of the company’s stock after selling 5,251 shares during the period. Stanley Laman Group Ltd.’s holdings in nCino were worth $871,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Barclays PLC grew its stake in nCino by 45.2% in the third quarter. Barclays PLC now owns 88,168 shares of the company’s stock worth $2,804,000 after purchasing an additional 27,452 shares in the last quarter. Trexquant Investment LP acquired a new position in nCino in the third quarter worth approximately $1,161,000. Envestnet Asset Management Inc. grew its position in nCino by 85.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 139,997 shares of the company’s stock worth $4,452,000 after purchasing an additional 64,446 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in nCino during the 3rd quarter valued at $3,171,000. Finally, Fred Alger Management LLC raised its stake in nCino by 6.4% during the 3rd quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock valued at $42,582,000 after purchasing an additional 80,556 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at nCino

In related news, insider April Rieger sold 1,460 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.66, for a total value of $44,763.60. Following the completion of the sale, the insider now owns 149,078 shares of the company’s stock, valued at $4,570,731.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other nCino news, Director Insight Holdings Group, Llc sold 1,031,659 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $35.20, for a total value of $36,314,396.80. Following the transaction, the director now directly owns 545,039 shares of the company’s stock, valued at $19,185,372.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider April Rieger sold 1,460 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.66, for a total transaction of $44,763.60. Following the completion of the transaction, the insider now directly owns 149,078 shares in the company, valued at $4,570,731.48. The disclosure for this sale can be found here. Insiders sold a total of 1,105,300 shares of company stock valued at $38,835,333 over the last quarter. Corporate insiders own 38.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NCNO shares. Robert W. Baird upped their price target on shares of nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Needham & Company LLC upped their price objective on shares of nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Keefe, Bruyette & Woods began coverage on shares of nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 target price for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $42.00 target price on shares of nCino in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.91.

nCino Price Performance

Shares of NASDAQ NCNO traded down $0.27 during mid-day trading on Friday, hitting $29.51. 884,312 shares of the stock were exchanged, compared to its average volume of 938,122. The company has a market cap of $3.37 billion, a P/E ratio of -77.66, a PEG ratio of 25.02 and a beta of 0.49. The stock’s fifty day simple moving average is $31.14 and its two-hundred day simple moving average is $30.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. nCino, Inc. has a twelve month low of $21.26 and a twelve month high of $37.48.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $123.69 million during the quarter, compared to analyst estimates of $124.58 million. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. As a group, analysts forecast that nCino, Inc. will post 0.05 EPS for the current fiscal year.

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.