West Tower Group LLC Purchases Shares of 4,000 nCino, Inc. (NASDAQ:NCNO)

West Tower Group LLC purchased a new stake in nCino, Inc. (NASDAQ:NCNO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,000 shares of the company’s stock, valued at approximately $126,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NCNO. Crewe Advisors LLC bought a new stake in shares of nCino in the 2nd quarter worth about $26,000. Asset Management One Co. Ltd. grew its holdings in shares of nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares during the last quarter. Amalgamated Bank grew its holdings in shares of nCino by 28.1% in the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after purchasing an additional 2,677 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NCNO shares. Truist Financial reiterated a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Stephens reiterated an “equal weight” rating and set a $35.00 price target on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC reduced their price target on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Finally, Piper Sandler reiterated an “overweight” rating and set a $38.00 price target on shares of nCino in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Insider Transactions at nCino

In related news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at $9,705,064.60. The trade was a 1.38 % 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. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred on 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 transaction, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,235,029 shares of company stock worth $117,599,204. Insiders own 28.40% of the company’s stock.

nCino Stock Up 1.9 %

Shares of NASDAQ NCNO opened at $42.20 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino, Inc. has a 52 week low of $27.47 and a 52 week high of $43.20. The stock has a market capitalization of $4.88 billion, a P/E ratio of -156.29, a PEG ratio of 34.35 and a beta of 0.55. The stock’s fifty day moving average is $35.95 and its 200 day moving average is $33.07.

nCino (NASDAQ:NCNO) last released its 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. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Sell-side analysts forecast 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.