Stanley Laman Group Ltd. Sells 5,251 Shares of nCino, Inc. (NASDAQ:NCNO)

Stanley Laman Group Ltd. decreased its position in shares of nCino, Inc. (NASDAQ:NCNO) by 16.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,894 shares of the company’s stock after selling 5,251 shares during the quarter. Stanley Laman Group Ltd.’s holdings in nCino were worth $871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fred Alger Management LLC lifted its position in nCino by 6.4% during the third quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock worth $42,582,000 after purchasing an additional 80,556 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of nCino by 2.6% in the third quarter. New York State Common Retirement Fund now owns 741,831 shares of the company’s stock worth $23,590,000 after acquiring an additional 19,060 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of nCino by 3.7% in the third quarter. American Century Companies Inc. now owns 615,021 shares of the company’s stock worth $19,558,000 after acquiring an additional 22,015 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of nCino in the third quarter worth about $17,398,000. Finally, Untitled Investments LP increased its stake in shares of nCino by 11.8% in the third quarter. Untitled Investments LP now owns 476,318 shares of the company’s stock valued at $15,147,000 after buying an additional 50,383 shares during the period. Institutional investors own 94.76% of the company’s stock.

nCino Stock Down 0.9 %

Shares of NCNO traded down $0.27 during trading hours on Friday, reaching $29.51. The stock had a trading volume of 884,312 shares, compared to its average volume of 938,122. nCino, Inc. has a 12 month low of $21.26 and a 12 month high of $37.48. The firm has a 50-day simple moving average of $31.14 and a 200 day simple moving average of $30.94. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -77.66, a P/E/G ratio of 25.02 and a beta of 0.49.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. nCino had a positive return on equity of 0.31% and a negative net margin of 8.89%. The business had revenue of $123.69 million for the quarter, compared to analysts’ expectations of $124.58 million. Equities research analysts predict that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of nCino in a research note on Wednesday, March 27th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, March 27th. Needham & Company LLC increased their target price on shares of nCino from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods started coverage on shares of nCino in a research report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 target price for the company. Finally, Robert W. Baird increased their target price on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.91.

Insider Activity at nCino

In related news, VP Jeanette Sellers sold 894 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $31.18, for a total value of $27,874.92. Following the sale, the vice president now directly owns 20,770 shares in the company, valued at approximately $647,608.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director William J. Ruh sold 5,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $34.51, for a total transaction of $172,550.00. Following the completion of the sale, the director now owns 251,201 shares of the company’s stock, valued at $8,668,946.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jeanette Sellers sold 894 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $31.18, for a total value of $27,874.92. Following the completion of the transaction, the vice president now owns 20,770 shares of the company’s stock, valued at approximately $647,608.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,105,300 shares of company stock worth $38,835,333. Company insiders own 38.20% 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.