Drive Wealth Management LLC Sells 25,680 Shares of nCino Inc. $NCNO

Drive Wealth Management LLC lowered its position in nCino Inc. (NASDAQ:NCNO) by 73.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,443 shares of the company’s stock after selling 25,680 shares during the quarter. Drive Wealth Management LLC’s holdings in nCino were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Long Path Partners LP raised its stake in shares of nCino by 61.1% in the 2nd quarter. Long Path Partners LP now owns 4,787,869 shares of the company’s stock valued at $133,917,000 after buying an additional 1,815,868 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in nCino by 24.0% during the second quarter. Conestoga Capital Advisors LLC now owns 2,669,920 shares of the company’s stock worth $74,678,000 after purchasing an additional 516,635 shares during the period. Bamco Inc. NY boosted its holdings in nCino by 12.0% during the second quarter. Bamco Inc. NY now owns 2,052,953 shares of the company’s stock valued at $57,421,000 after purchasing an additional 220,028 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of nCino by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,760,447 shares of the company’s stock valued at $49,247,000 after purchasing an additional 94,733 shares during the period. Finally, Spyglass Capital Management LLC bought a new position in shares of nCino during the 2nd quarter worth approximately $44,190,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NCNO. UBS Group reiterated a “buy” rating and issued a $36.00 price target on shares of nCino in a research report on Tuesday, December 9th. BTIG Research started coverage on shares of nCino in a report on Tuesday, December 16th. They issued a “neutral” rating on the stock. Raymond James Financial raised shares of nCino from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target for the company in a report on Monday, October 20th. Zacks Research raised shares of nCino from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of nCino in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.27.

Insiders Place Their Bets

In related news, insider April Rieger sold 4,731 shares of nCino stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $25.81, for a total value of $122,107.11. Following the completion of the sale, the insider directly owned 229,774 shares in the company, valued at $5,930,466.94. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeanette Sellers sold 1,507 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.49, for a total transaction of $36,906.43. Following the transaction, the senior vice president owned 46,731 shares in the company, valued at approximately $1,144,442.19. The trade was a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,780 shares of company stock valued at $1,028,550 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

nCino Stock Performance

Shares of nCino stock opened at $24.30 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $24.90 and a 200 day simple moving average of $26.94. nCino Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $35.04. The firm has a market cap of $2.79 billion, a P/E ratio of -135.00, a P/E/G ratio of 6.39 and a beta of 0.55.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.11. The firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.31 million. nCino had a positive return on equity of 2.28% and a negative net margin of 3.71%.The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. nCino has set its FY 2026 guidance at 0.900-0.910 EPS and its Q4 2026 guidance at 0.210-0.220 EPS. Sell-side analysts predict that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has approved a share repurchase program on Monday, December 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.