Daiwa Securities Group Inc. Sells 9,300 Shares of nCino, Inc. (NASDAQ:NCNO)

Daiwa Securities Group Inc. reduced its holdings in nCino, Inc. (NASDAQ:NCNO) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,885 shares of the company’s stock after selling 9,300 shares during the period. Daiwa Securities Group Inc. owned 0.08% of nCino worth $2,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of nCino in the second quarter valued at about $26,000. Asset Management One Co. Ltd. grew its stake in nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after purchasing an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after purchasing an additional 2,677 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of 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 buying an additional 1,134 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NCNO. Macquarie reaffirmed an “outperform” rating and set a $40.00 price target on shares of nCino in a research report on Wednesday, October 23rd. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and set a $43.00 price target on shares of nCino in a report on Wednesday, August 28th. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $44.00 price objective (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.25.

nCino Trading Down 0.9 %

Shares of nCino stock opened at $41.88 on Thursday. nCino, Inc. has a 52-week low of $27.47 and a 52-week high of $43.20. The stock has a market cap of $4.84 billion, a PE ratio of -155.22, a PEG ratio of 35.00 and a beta of 0.55. The firm has a 50-day moving average of $36.20 and a 200-day moving average of $33.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

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

Insider Activity

In other nCino news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the transaction, the director now directly owns 226,201 shares of the company’s stock, valued at $8,482,537.50. The trade was a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Horing sold 1,833,975 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. This trade represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,235,029 shares of company stock worth $117,599,204. Corporate insiders own 28.40% of the company’s stock.

About nCino

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.