Smartleaf Asset Management LLC Sells 871 Shares of nCino, Inc. (NASDAQ:NCNO)

Smartleaf Asset Management LLC lowered its position in nCino, Inc. (NASDAQ:NCNO) by 18.7% during the 4th quarter, HoldingsChannel reports. The firm owned 3,783 shares of the company’s stock after selling 871 shares during the period. Smartleaf Asset Management LLC’s holdings in nCino were worth $127,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Long Path Partners LP increased its stake in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after acquiring an additional 1,131,271 shares during the last quarter. ShawSpring Partners LLC increased its stake in nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after acquiring an additional 1,424,349 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after acquiring an additional 828,124 shares during the last quarter. Conestoga Capital Advisors LLC bought a new position in nCino in the fourth quarter valued at $70,256,000. Finally, Brown Brothers Harriman & Co. increased its stake in nCino by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after acquiring an additional 736,627 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 5,148 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $167,824.80. Following the completion of the transaction, the chief financial officer now owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. This trade represents a 1.86 % 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 link. Also, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now directly owns 145,953 shares of the company’s stock, valued at $4,758,067.80. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,270,085 shares of company stock worth $225,838,863 over the last three months. Company insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NCNO. Morgan Stanley reduced their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. UBS Group began coverage on nCino in a research note on Monday, December 16th. They set a “buy” rating and a $44.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of nCino in a research note on Thursday, December 5th. Scotiabank raised their price objective on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.50.

nCino Stock Performance

Shares of NCNO opened at $30.53 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a one year low of $28.50 and a one year high of $43.20. The company has a 50-day simple moving average of $32.89 and a two-hundred day simple moving average of $34.49. The firm has a market capitalization of $3.54 billion, a PE ratio of -179.58, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66.

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.