NewEdge Wealth LLC bought a new position in nCino Inc. (NASDAQ:NCNO – Free Report) during the 4th quarter, Holdings Channel reports. The fund bought 64,407 shares of the company’s stock, valued at approximately $1,651,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its position in shares of nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after purchasing an additional 821 shares during the last quarter. AlphaQuest LLC lifted its position in shares of nCino by 5,022.2% during the 3rd quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after purchasing an additional 1,356 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of nCino by 76.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares during the last quarter. Quarry LP boosted its stake in nCino by 138.2% during the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock valued at $46,000 after purchasing an additional 987 shares during the period. Finally, Fifth Third Bancorp grew its holdings in nCino by 105.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock valued at $52,000 after buying an additional 982 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.
Insider Transactions at nCino
In other nCino news, CEO Sean Desmond sold 22,073 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $397,755.46. Following the sale, the chief executive officer owned 1,271,016 shares of the company’s stock, valued at $22,903,708.32. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the completion of the transaction, the chief financial officer owned 702,293 shares of the company’s stock, valued at approximately $12,655,319.86. This represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 164,918 shares of company stock valued at $2,900,939. Company insiders own 5.70% of the company’s stock.
nCino Trading Down 5.3%
nCino (NASDAQ:NCNO – Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. nCino had a return on equity of 4.75% and a net margin of 0.87%.The company had revenue of $149.67 million during the quarter, compared to the consensus estimate of $147.41 million. During the same quarter last year, the company earned $0.12 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, research analysts predict that nCino Inc. will post 0.52 earnings per share for the current year.
Analysts Set New Price Targets
Several research analysts have commented on NCNO shares. Needham & Company LLC dropped their price target on nCino from $38.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Keefe, Bruyette & Woods reduced their price objective on nCino from $36.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Morgan Stanley lowered their price objective on shares of nCino from $36.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, March 30th. Zacks Research raised shares of nCino from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Finally, Piper Sandler upgraded shares of nCino from a “neutral” rating to an “overweight” rating and cut their target price for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and a consensus price target of $26.07.
Check Out Our Latest Report on nCino
nCino Profile
nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.
Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.
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