Summit Trail Advisors LLC Sells 5,096 Shares of nCino, Inc. (NASDAQ:NCNO)

Summit Trail Advisors LLC decreased its position in nCino, Inc. (NASDAQ:NCNO) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,749 shares of the company’s stock after selling 5,096 shares during the quarter. Summit Trail Advisors LLC’s holdings in nCino were worth $1,635,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Long Path Partners LP grew its position in nCino by 151.1% in the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $81,460,000 after purchasing an additional 1,558,529 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of nCino in the 2nd quarter valued at about $41,805,000. Senator Investment Group LP acquired a new stake in shares of nCino in the second quarter valued at about $40,885,000. ShawSpring Partners LLC bought a new stake in nCino during the second quarter worth about $38,663,000. Finally, Millennium Management LLC boosted its position in nCino by 438.3% during the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock valued at $45,673,000 after purchasing an additional 1,182,452 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NCNO. 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. Piper Sandler restated an “overweight” rating and set a $38.00 price objective 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 raised their target price for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Stephens reissued an “equal weight” rating and set a $35.00 price target on shares of nCino in a research report on Wednesday, August 28th. Finally, Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.82.

Insider Buying and Selling

In other nCino news, Director William J. Ruh sold 10,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were 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 owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. This represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This represents a 1.38 % 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 in the last ninety days. 28.40% of the stock is owned by insiders.

nCino Stock Up 2.4 %

Shares of NASDAQ NCNO opened at $41.42 on Monday. nCino, Inc. has a one year low of $27.47 and a one year high of $43.20. The stock’s fifty day moving average price is $35.70 and its two-hundred day moving average price is $32.99. 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 (NASDAQ:NCNO) last released its 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 company had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. nCino’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) EPS. On average, sell-side analysts anticipate that nCino, Inc. will post 0.05 earnings per share for the current year.

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.