nCino, Inc. (NASDAQ:NCNO) Position Lowered by Townsquare Capital LLC

Townsquare Capital LLC decreased its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 269,942 shares of the company’s stock after selling 11,664 shares during the period. Townsquare Capital LLC owned about 0.23% of nCino worth $8,527,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in nCino by 8.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after acquiring an additional 635,064 shares during the last quarter. Vanguard Group Inc. lifted its holdings in nCino by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after acquiring an additional 148,390 shares during the last quarter. Long Path Partners LP lifted its holdings in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after acquiring an additional 1,131,271 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in nCino by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock worth $65,261,000 after acquiring an additional 736,627 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in nCino by 438.3% in the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after acquiring an additional 1,182,452 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of nCino 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred 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 completion of the transaction, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is owned by insiders.

nCino Price Performance

NASDAQ NCNO opened at $41.88 on Thursday. nCino, Inc. has a 12 month low of $27.47 and a 12 month 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 firm has a market capitalization of $4.84 billion, a PE ratio of -155.11, a P/E/G ratio of 35.00 and a beta of 0.55. The company’s 50 day simple moving average is $36.20 and its 200 day simple moving average is $33.15.

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

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Barclays raised their target price on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial reaffirmed a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a report on Wednesday, August 14th. Finally, Needham & Company LLC cut their price target on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average 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.