Malaga Cove Capital LLC Raises Holdings in nCino, Inc. (NASDAQ:NCNO)

Malaga Cove Capital LLC lifted its position in shares of nCino, Inc. (NASDAQ:NCNO) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,614 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Malaga Cove Capital LLC’s holdings in nCino were worth $430,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NCNO. Asset Management One Co. Ltd. boosted its position in 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 purchasing an additional 341 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in nCino by 3.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after buying an additional 508 shares during the period. First Bank & Trust grew its stake in nCino by 5.7% in the 2nd quarter. First Bank & Trust now owns 10,188 shares of the company’s stock valued at $320,000 after buying an additional 546 shares in the last quarter. Precision Wealth Strategies LLC raised its holdings in nCino by 4.5% during the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock valued at $428,000 after acquiring an additional 589 shares during the period. Finally, Covestor Ltd lifted its position in shares of nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after acquiring an additional 625 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity

In related news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction 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 $9,705,064.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.50, for a total value of $375,000.00. Following the transaction, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction 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 owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,035,584 shares of company stock valued at $144,146,625. Corporate insiders own 28.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NCNO shares. Truist Financial reiterated a “buy” rating and issued a $44.00 price target (up from $37.00) on shares of nCino in a research report on Monday, October 21st. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Macquarie reissued an “outperform” rating and issued a $40.00 price target on shares of nCino in a report on Wednesday, October 23rd. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.82.

nCino Stock Up 6.9 %

NCNO opened at $40.15 on Thursday. The business’s fifty day simple moving average is $32.97 and its 200 day simple moving average is $32.05. nCino, Inc. has a 52 week low of $27.47 and a 52 week high of $40.60. 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 stock has a market cap of $4.64 billion, a PE ratio of -148.70, a P/E/G ratio of 30.53 and a beta of 0.55.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating 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 positive return on equity of 1.06% and a negative net margin of 5.78%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. As a group, research analysts expect that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

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.