nCino, Inc. (NASDAQ:NCNO) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC decreased its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 4.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 128,956 shares of the company’s stock after selling 5,865 shares during the period. nCino accounts for approximately 1.1% of Drive Wealth Management LLC’s portfolio, making the stock its 14th biggest position. Drive Wealth Management LLC’s holdings in nCino were worth $4,074,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Bamco Inc. NY lifted its position in shares of nCino by 83.7% during the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock worth $34,576,000 after purchasing an additional 421,500 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in nCino during the 2nd quarter worth about $3,530,000. Clearbridge Investments LLC boosted its position in shares of nCino by 14.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock worth $45,985,000 after acquiring an additional 157,470 shares in the last quarter. Select Equity Group L.P. increased its holdings in shares of nCino by 182.0% in the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after acquiring an additional 16,416 shares during the last quarter. Finally, Vanderbilt University increased its holdings in shares of nCino by 192.3% in the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after acquiring an additional 92,481 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial restated a “buy” rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Tuesday, September 3rd. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Stephens reiterated an “equal weight” rating and set a $35.00 price target on shares of nCino in a research note on Wednesday, August 28th. Finally, Needham & Company LLC decreased their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.82.

Insider Buying and Selling at nCino

In other news, insider Sean Desmond sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares of the company’s stock, valued at $11,874,337.47. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the company’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 directly owns 276,892 shares in the company, valued at $9,705,064.60. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,235,582 shares of company stock valued at $117,618,559. 28.40% of the stock is owned by company insiders.

nCino Trading Down 1.2 %

Shares of nCino stock opened at $40.22 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 company has a market capitalization of $4.65 billion, a P/E ratio of -148.96, a PEG ratio of 33.35 and a beta of 0.55. nCino, Inc. has a 1 year low of $27.47 and a 1 year high of $43.20. The company’s fifty day moving average is $34.59 and its two-hundred day moving average is $32.66.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $132.40 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) EPS. Analysts forecast that nCino, Inc. will post 0.05 earnings per share for the current year.

nCino 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.