Azora Capital LP Lowers Position in nCino, Inc. (NASDAQ:NCNO)

Azora Capital LP lessened its stake in nCino, Inc. (NASDAQ:NCNO) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,058,002 shares of the company’s stock after selling 286,006 shares during the period. nCino makes up approximately 3.5% of Azora Capital LP’s holdings, making the stock its 10th largest position. Azora Capital LP owned about 1.78% of nCino worth $65,012,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of nCino in the 2nd quarter worth approximately $26,000. Asset Management One Co. Ltd. increased its holdings in nCino by 21.1% during the third 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 last quarter. Benjamin F. Edwards & Company Inc. raised its position in nCino by 97.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after acquiring an additional 1,358 shares during the period. West Tower Group LLC purchased a new position in shares of nCino during the 3rd quarter worth $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of nCino during the 3rd quarter valued at $152,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Trading Up 0.3 %

Shares of nCino stock opened at $41.99 on Monday. nCino, Inc. has a twelve month low of $27.47 and a twelve month high of $43.20. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $36.90 and a 200-day moving average price of $33.37. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -155.52, a PEG ratio of 34.82 and a beta of 0.55.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction on Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the transaction, the director now directly owns 226,201 shares of the company’s stock, valued at $8,482,537.50. The trade was a 4.23 % 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 worth $117,599,204 in the last quarter. 28.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price on shares of nCino in a report on Wednesday, August 28th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Stephens reiterated an “equal weight” rating and set a $35.00 price objective on shares of nCino in a research note on Wednesday, August 28th. JMP Securities restated a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Finally, Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.25.

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.