Townsquare Capital LLC Has $8.53 Million Position in nCino, Inc. (NASDAQ:NCNO)

Townsquare Capital LLC lowered its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 4.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 269,942 shares of the company’s stock after selling 11,664 shares during the period. Townsquare Capital LLC’s holdings in nCino were worth $8,527,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of nCino during the 2nd quarter valued at $26,000. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after buying an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after buying an additional 1,358 shares during the period. West Tower Group LLC acquired a new stake in shares of nCino during the 3rd quarter valued at $126,000. Finally, Lazard Asset Management LLC boosted its stake in shares of nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after buying an additional 2,677 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Macquarie reissued an “outperform” rating and set a $40.00 target price on shares of nCino in a research note on Wednesday, October 23rd. Truist Financial reaffirmed a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Insider Transactions at nCino

In related news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the sale, the insider now owns 341,511 shares of the company’s stock, valued at $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the sale, the chief financial officer now directly owns 276,892 shares in the company, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is currently owned by company insiders.

nCino Stock Performance

Shares of NCNO opened at $41.88 on Thursday. The company has a market capitalization of $4.84 billion, a PE ratio of -155.11, a price-to-earnings-growth ratio of 35.00 and a beta of 0.55. nCino, Inc. has a one year low of $27.47 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The company’s fifty day moving average price is $36.20 and its 200 day moving average price is $33.15.

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

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 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.