Advisory Services Network LLC Acquires New Holdings in nCino, Inc. (NASDAQ:NCNO)

Advisory Services Network LLC acquired a new stake in shares of nCino, Inc. (NASDAQ:NCNOFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,077 shares of the company’s stock, valued at approximately $171,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fred Alger Management LLC raised its position in nCino by 6.4% during the third quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock valued at $42,582,000 after acquiring an additional 80,556 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of nCino by 96.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,072,724 shares of the company’s stock worth $36,076,000 after acquiring an additional 525,605 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of nCino by 20.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,034,908 shares of the company’s stock worth $34,807,000 after acquiring an additional 177,799 shares during the last quarter. Norges Bank acquired a new stake in shares of nCino in the fourth quarter worth $25,336,000. Finally, American Century Companies Inc. boosted its stake in nCino by 3.7% during the third quarter. American Century Companies Inc. now owns 615,021 shares of the company’s stock worth $19,558,000 after buying an additional 22,015 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Price Performance

NASDAQ NCNO opened at $29.86 on Friday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -96.32, a PEG ratio of 16.18 and a beta of 0.59. nCino, Inc. has a 52-week low of $23.70 and a 52-week high of $37.48. The business has a 50 day simple moving average of $31.39 and a 200 day simple moving average of $31.33. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.07.

nCino (NASDAQ:NCNOGet Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. The company had revenue of $123.69 million during the quarter, compared to analysts’ expectations of $124.58 million. Analysts anticipate that nCino, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at nCino

In other nCino news, Director Pamela Kilday sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.48, for a total transaction of $36,480.00. Following the completion of the sale, the director now owns 20,930 shares of the company’s stock, valued at approximately $763,526.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other nCino news, Director Pamela Kilday sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.48, for a total transaction of $36,480.00. Following the completion of the sale, the director now owns 20,930 shares of the company’s stock, valued at approximately $763,526.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeanette Sellers sold 2,153 shares of nCino stock in a transaction on Monday, May 6th. The stock was sold at an average price of $30.33, for a total value of $65,300.49. Following the sale, the vice president now directly owns 27,360 shares of the company’s stock, valued at approximately $829,828.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,114,061 shares of company stock valued at $39,096,813. 28.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NCNO has been the topic of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price target on shares of nCino in a report on Thursday, May 30th. Piper Sandler cut their target price on shares of nCino from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Morgan Stanley upped their target price on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of nCino in a research report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.64.

Read Our Latest Analysis on nCino

nCino Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for nCino (NASDAQ:NCNO)

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