nCino, Inc. (NASDAQ:NCNO) Stock Holdings Lowered by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP cut its position in nCino, Inc. (NASDAQ:NCNO) by 33.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,951 shares of the company’s stock after selling 85,818 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in nCino were worth $5,337,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of nCino in the second quarter valued at approximately $26,000. Asset Management One Co. Ltd. boosted its position in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after buying an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after buying an additional 1,358 shares in the last quarter. West Tower Group LLC acquired a new stake in nCino in the 3rd quarter valued at approximately $126,000. Finally, Amalgamated Bank increased its position in nCino by 28.1% in the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock valued at $163,000 after acquiring an additional 1,134 shares during the period. 94.76% of the stock is currently owned by institutional investors.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $42.20 on Tuesday. The stock’s fifty day simple moving average is $35.95 and its 200 day simple moving average is $33.07. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of -156.29, a PEG ratio of 34.35 and a beta of 0.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino, Inc. has a 52-week low of $27.47 and a 52-week high of $43.20.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on NCNO shares. William Blair reissued an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price target on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a report on Wednesday, August 14th. JMP Securities reissued a “market outperform” rating and set a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Finally, 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 report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Insiders Place Their Bets

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

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.