AtonRa Partners Lowers Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

AtonRa Partners reduced its position in shares of nCino, Inc. (NASDAQ:NCNO) by 25.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,929 shares of the company’s stock after selling 3,344 shares during the period. AtonRa Partners’ holdings in nCino were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio purchased a new position in nCino in the fourth quarter valued at $990,000. Barclays PLC boosted its holdings in nCino by 45.2% in the third quarter. Barclays PLC now owns 88,168 shares of the company’s stock valued at $2,804,000 after purchasing an additional 27,452 shares during the period. Trexquant Investment LP purchased a new position in nCino in the third quarter valued at $1,161,000. Envestnet Asset Management Inc. boosted its holdings in nCino by 85.3% in the third quarter. Envestnet Asset Management Inc. now owns 139,997 shares of the company’s stock valued at $4,452,000 after purchasing an additional 64,446 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new stake in nCino during the 3rd quarter worth about $3,171,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on NCNO. Keefe, Bruyette & Woods began coverage on nCino in a report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price target for the company. Morgan Stanley lifted their price target on nCino from $27.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price target on shares of nCino in a report on Wednesday, March 27th. Finally, Robert W. Baird lifted their price target on nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.91.

nCino Stock Performance

NCNO stock traded down $0.07 during trading on Monday, hitting $29.44. The company had a trading volume of 1,186,209 shares, compared to its average volume of 941,149. The firm has a market cap of $3.36 billion, a PE ratio of -77.47, a price-to-earnings-growth ratio of 24.47 and a beta of 0.48. nCino, Inc. has a 1-year low of $21.26 and a 1-year high of $37.48. The firm has a 50-day moving average price of $31.13 and a 200-day moving average price of $30.96. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.05.

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

Insider Activity at nCino

In other nCino news, insider April Rieger sold 1,518 shares of nCino stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total value of $47,391.96. Following the sale, the insider now owns 150,538 shares of the company’s stock, valued at approximately $4,699,796.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other nCino news, CFO Gregory Orenstein sold 1,814 shares of nCino stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total value of $56,633.08. Following the sale, the chief financial officer now owns 220,715 shares of the company’s stock, valued at approximately $6,890,722.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 1,518 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total value of $47,391.96. Following the sale, the insider now directly owns 150,538 shares in the company, valued at approximately $4,699,796.36. The disclosure for this sale can be found here. Insiders have sold 1,105,300 shares of company stock worth $38,835,333 in the last quarter. Company insiders own 38.20% of the company’s stock.

nCino Company Profile

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.