Envestnet Asset Management Inc. Has $1.35 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Envestnet Asset Management Inc. increased its stake in shares of nCino, Inc. (NASDAQ:NCNO – Get Rating) by 20.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 51,029 shares of the company’s stock after buying an additional 8,682 shares during the quarter. Envestnet Asset Management Inc.’s holdings in nCino were worth $1,349,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Spire Wealth Management grew its holdings in nCino by 69.7% during the 3rd quarter. Spire Wealth Management now owns 1,310 shares of the company’s stock worth $45,000 after acquiring an additional 538 shares during the last quarter. UBS Group AG grew its holdings in nCino by 218.7% during the 3rd quarter. UBS Group AG now owns 1,807 shares of the company’s stock worth $62,000 after acquiring an additional 1,240 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of nCino by 22.0% in the 3rd quarter. MetLife Investment Management LLC now owns 2,003 shares of the company’s stock valued at $68,000 after purchasing an additional 361 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 37.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,222 shares of the company’s stock valued at $58,000 after purchasing an additional 603 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of nCino by 47.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,429 shares of the company’s stock valued at $141,000 after purchasing an additional 1,111 shares during the last quarter. 88.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reduced their price objective on shares of nCino from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, March 29th. Bank of America lowered their price objective on shares of nCino from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 29th. Barclays lowered their target price on shares of nCino from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, March 29th. Truist Financial lowered their target price on shares of nCino from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, March 29th. Finally, Piper Jaffray Companies downgraded shares of nCino from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 14th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.67.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $27.57 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $3.09 billion, a PE ratio of -29.65 and a beta of 0.34. nCino, Inc. has a twelve month low of $19.58 and a twelve month high of $39.83. The company has a 50-day moving average price of $23.85 and a two-hundred day moving average price of $25.78.

nCino (NASDAQ:NCNO – Get Rating) last released its quarterly earnings data on Tuesday, March 28th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. nCino had a negative net margin of 25.16% and a negative return on equity of 5.61%. The company had revenue of $109.18 million during the quarter, compared to analyst estimates of $104.47 million. Equities analysts forecast that nCino, Inc. will post -0.06 EPS for the current year.

Insider Activity

In other news, insider Joshua L. Glover sold 72,851 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $23.94, for a total value of $1,744,052.94. Following the completion of the transaction, the insider now directly owns 320,373 shares in the company, valued at $7,669,729.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Joshua L. Glover sold 2,386 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $24.11, for a total value of $57,526.46. Following the sale, the insider now directly owns 317,987 shares of the company’s stock, valued at $7,666,666.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joshua L. Glover sold 72,851 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $23.94, for a total transaction of $1,744,052.94. Following the completion of the sale, the insider now directly owns 320,373 shares in the company, valued at $7,669,729.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,705 shares of company stock worth $2,126,087. 38.20% of the stock is owned by company insiders.

nCino Company Profile

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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, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.