Atria Investments Inc Sells 11,998 Shares of nCino, Inc. (NASDAQ:NCNO)

Atria Investments Inc reduced its stake in nCino, Inc. (NASDAQ:NCNO) by 28.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,494 shares of the company’s stock after selling 11,998 shares during the period. Atria Investments Inc’s holdings in nCino were worth $932,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NCNO. Capital International Investors purchased a new stake in nCino during the first quarter valued at $60,703,000. Long Path Partners LP increased its holdings in shares of nCino by 151.1% in the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after buying an additional 1,558,529 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of nCino during the 2nd quarter valued at about $41,805,000. Senator Investment Group LP purchased a new stake in shares of nCino during the 2nd quarter valued at about $40,885,000. Finally, ShawSpring Partners LLC bought a new position in shares of nCino in the 2nd quarter valued at about $38,663,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In other nCino news, Director William J. Ruh sold 10,000 shares of nCino 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 transaction, the director now owns 226,201 shares in the company, valued at $8,482,537.50. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,235,582 shares of company stock valued at $117,618,559 over the last 90 days. Corporate insiders own 28.40% of the company’s stock.

nCino Trading Down 1.2 %

NCNO opened at $40.22 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average is $34.59 and its two-hundred day moving average is $32.66. The company has a market capitalization of $4.65 billion, a P/E ratio of -148.96, a PEG ratio of 33.35 and a beta of 0.55. nCino, Inc. has a 52 week low of $27.47 and a 52 week high of $43.20.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $132.40 million during 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 firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. Analysts forecast that nCino, Inc. will post 0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NCNO. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Macquarie reiterated an “outperform” rating and set a $40.00 price objective on shares of nCino in a research report on Wednesday, October 23rd. Needham & Company LLC lowered their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report 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. Finally, Truist Financial reissued a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.82.

nCino Company Profile

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.