4,000 Shares in nCino, Inc. (NASDAQ:NCNO) Bought by West Tower Group LLC

West Tower Group LLC bought a new position in nCino, Inc. (NASDAQ:NCNO) during the third quarter, HoldingsChannel reports. The firm bought 4,000 shares of the company’s stock, valued at approximately $126,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in nCino in the 2nd quarter valued at $26,000. Asset Management One Co. Ltd. raised its position in nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after buying an additional 341 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in nCino by 97.2% in 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 during the last quarter. Lazard Asset Management LLC raised its position in nCino by 145.6% in 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 during the last quarter. Finally, Amalgamated Bank raised its position in 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 hedge funds and other institutional investors.

Insider Activity at nCino

In other nCino news, Director William J. Ruh sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 226,201 shares in the company, valued at $8,482,537.50. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeff Horing sold 1,833,975 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 12,513,467 shares of the company’s stock, valued at approximately $458,243,161.54. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday, August 28th. Barclays raised their target price on nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Macquarie reaffirmed an “outperform” rating and set a $40.00 target price on shares of nCino in a research report on Wednesday, October 23rd. Finally, Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, nCino has an average rating of “Moderate Buy” and a consensus target price of $39.25.

nCino Trading Up 1.9 %

nCino stock opened at $42.20 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $35.95 and its two-hundred day simple moving average is $33.07. nCino, Inc. has a 12 month low of $27.47 and a 12 month high of $43.20. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of -156.29, a price-to-earnings-growth ratio of 34.35 and a beta of 0.55.

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 analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, equities analysts predict that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

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.