Precision Wealth Strategies LLC Raises Position in nCino, Inc. (NASDAQ:NCNO)

Precision Wealth Strategies LLC raised its holdings in nCino, Inc. (NASDAQ:NCNO) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,564 shares of the company’s stock after buying an additional 589 shares during the period. Precision Wealth Strategies LLC’s holdings in nCino were worth $428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in nCino during the 2nd quarter worth $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in nCino in the first quarter valued at $52,000. Covestor Ltd increased its stake in nCino by 29.6% in the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after purchasing an additional 625 shares during the period. Amalgamated Bank increased its stake in nCino by 28.1% in the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock valued at $163,000 after purchasing an additional 1,134 shares during the period. Finally, Lazard Asset Management LLC increased its stake in nCino by 145.6% in the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after purchasing an additional 2,677 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at $9,705,064.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Insight Holdings Group, Llc sold 16,882 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $33.11, for a total transaction of $558,963.02. Following the completion of the transaction, the director now directly owns 1,381,929 shares of the company’s stock, valued at approximately $45,755,669.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,014,080 shares of company stock valued at $176,869,658 over the last quarter. Corporate insiders own 28.40% of the company’s stock.

nCino Stock Up 1.7 %

NCNO stock opened at $37.21 on Tuesday. The company has a market cap of $4.28 billion, a P/E ratio of -120.03, a P/E/G ratio of 26.59 and a beta of 0.59. nCino, Inc. has a 52 week low of $27.13 and a 52 week high of $37.73. The company’s 50-day moving average price is $31.86 and its 200 day moving average price is $31.53. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts expect that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on NCNO. Raymond James upgraded shares of 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. Piper Sandler restated an “overweight” rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $42.00 in a report on Wednesday, August 14th. Finally, Needham & Company LLC lowered their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.82.

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.