nCino, Inc. (NASDAQ:NCNO) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. lessened its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 33.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,925 shares of the company’s stock after selling 19,725 shares during the quarter. Sit Investment Associates Inc.’s holdings in nCino were worth $1,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of nCino by 32.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,324,045 shares of the company’s stock valued at $181,490,000 after acquiring an additional 1,808,829 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of nCino by 19.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,996,554 shares of the company’s stock valued at $238,653,000 after acquiring an additional 1,143,370 shares during the last quarter. Brown Capital Management LLC raised its holdings in nCino by 7.4% in the 1st quarter. Brown Capital Management LLC now owns 4,208,519 shares of the company’s stock valued at $104,287,000 after buying an additional 290,237 shares during the period. BlackRock Inc. raised its holdings in nCino by 0.7% in the 1st quarter. BlackRock Inc. now owns 3,247,703 shares of the company’s stock valued at $80,478,000 after buying an additional 21,406 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in nCino by 0.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,211,199 shares of the company’s stock valued at $54,793,000 after buying an additional 15,779 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

nCino Stock Down 1.4 %

Shares of nCino stock opened at $29.57 on Friday. nCino, Inc. has a one year low of $19.58 and a one year high of $33.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day simple moving average of $29.82 and a 200-day simple moving average of $28.91.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. nCino had a negative return on equity of 2.54% and a negative net margin of 16.15%. The business had revenue of $117.24 million during the quarter, compared to the consensus estimate of $115.00 million. During the same period in the previous year, the company posted ($0.15) earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts forecast that nCino, Inc. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NCNO has been the topic of several research analyst reports. Barclays boosted their price objective on shares of nCino from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, August 30th. Needham & Company LLC boosted their price objective on shares of nCino from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Bank of America boosted their price objective on shares of nCino from $28.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 30th. Scotiabank boosted their price objective on shares of nCino from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, September 29th. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.36.

Insider Transactions at nCino

In related news, insider April Rieger sold 4,076 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $30.99, for a total value of $126,315.24. Following the completion of the transaction, the insider now directly owns 163,080 shares of the company’s stock, valued at $5,053,849.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Jeanette Sellers sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $29.75, for a total value of $45,220.00. Following the completion of the transaction, the vice president now directly owns 23,338 shares of the company’s stock, valued at $694,305.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider April Rieger sold 4,076 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $30.99, for a total value of $126,315.24. Following the completion of the transaction, the insider now directly owns 163,080 shares of the company’s stock, valued at $5,053,849.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,240 shares of company stock valued at $555,897. 38.20% of the stock is currently 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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.