Portside Wealth Group LLC Sells 275 Shares of nCino, Inc. (NASDAQ:NCNO)

Portside Wealth Group LLC cut its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 0.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 39,511 shares of the company’s stock after selling 275 shares during the quarter. Portside Wealth Group LLC’s holdings in nCino were worth $1,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NCNO. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in nCino by 8.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after purchasing an additional 635,064 shares during the last quarter. Vanguard Group Inc. increased its position in nCino by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after buying an additional 148,390 shares during the period. Long Path Partners LP lifted its holdings in shares of nCino by 151.1% during the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after buying an additional 1,558,529 shares in the last quarter. Meritage Group LP boosted its position in shares of nCino by 2.3% in the first quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after acquiring an additional 39,828 shares during the period. Finally, Capital International Investors bought a new stake in shares of nCino in the first quarter valued at about $60,703,000. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on NCNO shares. Needham & Company LLC dropped their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Tuesday, September 3rd. Stephens reissued an “equal weight” rating and set a $35.00 price target on shares of nCino in a research report on Wednesday, August 28th. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Finally, JMP Securities reiterated a “market outperform” rating and set a $43.00 target price on shares of nCino in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.82.

nCino Stock Up 4.6 %

NCNO stock opened at $41.99 on Friday. The firm has a 50-day moving average price of $33.20 and a 200-day moving average price of $32.12. nCino, Inc. has a 12 month low of $27.47 and a 12 month high of $42.07. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.85 billion, a P/E ratio of -155.51, a price-to-earnings-growth ratio of 30.53 and a beta of 0.55.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) EPS. As a group, equities research analysts anticipate that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Insider Activity at nCino

In other news, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares of the company’s stock, valued at $9,705,064.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeff Horing sold 1,833,975 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares of the company’s stock, valued at approximately $458,243,161.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,035,584 shares of company stock valued at $144,146,625 in the last 90 days. 28.40% of the stock is owned by corporate insiders.

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.