Motley Fool Asset Management LLC Reduces Holdings in nCino, Inc. (NASDAQ:NCNO)

Motley Fool Asset Management LLC trimmed its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,640 shares of the company’s stock after selling 1,096 shares during the quarter. Motley Fool Asset Management LLC’s holdings in nCino were worth $1,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Simplicity Wealth LLC bought a new stake in shares of nCino during the 2nd quarter valued at $3,530,000. Thrivent Financial for Lutherans bought a new stake in shares of nCino during the 3rd quarter valued at $689,000. Select Equity Group L.P. raised its stake in shares of nCino by 182.0% during the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after purchasing an additional 16,416 shares during the period. Vanderbilt University raised its stake in shares of nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after purchasing an additional 92,481 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in shares of nCino during the 3rd quarter valued at $745,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $43.00 price objective on shares of nCino 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. Macquarie restated an “outperform” rating and issued a $40.00 target price on shares of nCino in a research note on Wednesday, October 23rd. Piper Sandler restated an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. Finally, William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.23.

Insider Transactions at nCino

In related news, Director William J. Ruh sold 10,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. This represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sean Desmond sold 30,000 shares of the 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. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is currently owned by corporate insiders.

nCino Price Performance

NCNO opened at $42.50 on Thursday. The stock has a 50-day moving average price of $37.34 and a 200-day moving average price of $33.51. nCino, Inc. has a 12-month low of $28.09 and a 12-month high of $43.20. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.91 billion, a P/E ratio of -157.41, a PEG ratio of 34.46 and a beta of 0.59.

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.