Summit Trail Advisors LLC Sells 5,096 Shares of nCino, Inc. (NASDAQ:NCNO)

Summit Trail Advisors LLC cut its position in shares of nCino, Inc. (NASDAQ:NCNO) by 9.0% during the 3rd quarter, Holdings Channel reports. The firm owned 51,749 shares of the company’s stock after selling 5,096 shares during the quarter. Summit Trail Advisors LLC’s holdings in nCino were worth $1,635,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in nCino by 8.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after purchasing an additional 635,064 shares during the last quarter. Vanguard Group Inc. raised its position in nCino by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after acquiring an additional 148,390 shares during the period. Long Path Partners LP boosted its stake in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after acquiring an additional 1,131,271 shares during the last quarter. Millennium Management LLC grew its position in shares of nCino by 438.3% during the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock valued at $45,673,000 after acquiring an additional 1,182,452 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of nCino by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,240 shares of the company’s stock worth $43,031,000 after purchasing an additional 135,395 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several recent research reports. Macquarie reissued an “outperform” rating and issued a $40.00 price objective on shares of nCino in a report on Wednesday, October 23rd. Needham & Company LLC cut their target price on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Stephens restated an “equal weight” rating and issued a $35.00 target price on shares of nCino in a research note on Wednesday, August 28th. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.82.

Insider Activity

In other news, Director Jeff Horing sold 1,833,975 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. This represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock valued at $117,599,204 in the last ninety days. Insiders own 28.40% of the company’s stock.

nCino Trading Up 2.4 %

Shares of NCNO opened at $41.42 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The business has a 50-day simple moving average of $35.70 and a two-hundred day simple moving average of $32.99. nCino, Inc. has a 52 week low of $27.47 and a 52 week high of $43.20.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) earnings per share. As a group, analysts predict that nCino, Inc. will post 0.05 earnings per share for the current year.

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.