Stanley Laman Group Ltd. Sells 7,259 Shares of nCino, Inc. (NASDAQ:NCNO)

Stanley Laman Group Ltd. trimmed its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 29.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,488 shares of the company’s stock after selling 7,259 shares during the period. Stanley Laman Group Ltd.’s holdings in nCino were worth $552,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NCNO. Norden Group LLC increased its position in nCino by 2,388.5% in the 1st quarter. Norden Group LLC now owns 454,665 shares of the company’s stock valued at $16,995,000 after buying an additional 436,394 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in nCino in the first quarter valued at approximately $52,000. Principal Financial Group Inc. bought a new stake in shares of nCino during the first quarter valued at approximately $220,000. SpiderRock Advisors LLC acquired a new position in shares of nCino during the first quarter worth approximately $751,000. Finally, Diversify Advisory Services LLC bought a new position in shares of nCino in the 1st quarter worth $373,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the subject of a number of recent research reports. Needham & Company LLC decreased their price target on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Macquarie reissued an “outperform” rating and set a $40.00 target price on shares of nCino in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Stephens restated an “equal weight” rating and issued a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.82.

Insider Buying and Selling

In other nCino news, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other nCino news, Director Jeff Horing sold 1,833,975 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were 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 approximately $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,024,080 shares of company stock worth $177,244,658. Insiders own 28.40% of the company’s stock.

nCino Stock Performance

NCNO stock opened at $37.55 on Thursday. The business has a 50 day moving average of $32.07 and a 200-day moving average of $31.58. The firm has a market cap of $4.32 billion, a PE ratio of -121.13, a P/E/G ratio of 26.59 and a beta of 0.59. nCino, Inc. has a 12-month low of $27.27 and a 12-month high of $37.86. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data 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 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 business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. As a group, sell-side analysts expect that nCino, Inc. will post 0.05 earnings per share for the current 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.