Brown Capital Management LLC Sells 403,675 Shares of nCino, Inc. (NASDAQ:NCNO)

Brown Capital Management LLC reduced its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 14.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,431,041 shares of the company’s stock after selling 403,675 shares during the quarter. nCino comprises 1.7% of Brown Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Brown Capital Management LLC owned about 2.10% of nCino worth $76,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in shares of nCino in the second quarter worth $26,000. Asset Management One Co. Ltd. boosted its stake in nCino by 21.1% in the 3rd 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. Benjamin F. Edwards & Company Inc. grew its holdings in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after buying an additional 1,358 shares in the last quarter. Lazard Asset Management LLC grew its holdings in nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after buying an additional 2,677 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock valued at $163,000 after buying an additional 1,134 shares during the period. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NCNO shares. Macquarie restated an “outperform” rating and issued a $40.00 price objective on shares of nCino in a research report on Wednesday, October 23rd. Truist Financial restated a “buy” rating and set 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. JMP Securities reissued a “market outperform” rating and set a $43.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.82.

nCino Stock Performance

Shares of nCino stock opened at $40.08 on Thursday. The company has a fifty day moving average of $35.23 and a 200-day moving average of $32.84. nCino, Inc. has a 52-week low of $27.47 and a 52-week high of $43.20. 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 quarterly earnings data 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. The firm had revenue of $132.40 million during 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 business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Equities analysts forecast that nCino, Inc. will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction dated 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. 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 link. Also, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 3,235,582 shares of company stock worth $117,618,559 over the last three months. Company insiders own 28.40% of the company’s stock.

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.