Summit Trail Advisors LLC Sells 8,636 Shares of nCino, Inc. (NASDAQ:NCNO)

Summit Trail Advisors LLC decreased its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,113 shares of the company’s stock after selling 8,636 shares during the period. Summit Trail Advisors LLC’s holdings in nCino were worth $1,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NCNO. Fifth Third Bancorp bought a new position in nCino during the fourth quarter valued at approximately $34,000. Hilltop National Bank bought a new position in nCino in the fourth quarter worth approximately $37,000. Asset Management One Co. Ltd. raised its position in nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the period. West Tower Group LLC bought a new position in nCino in the third quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. bought a new position in nCino in the third quarter worth approximately $152,000. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on NCNO shares. Barclays upgraded shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research report on Monday, January 6th. Macquarie raised their price objective on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC raised their price objective on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Truist Financial restated a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.50.

nCino Price Performance

nCino stock opened at $32.96 on Tuesday. nCino, Inc. has a twelve month low of $28.09 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company’s 50-day moving average price is $34.47 and its 200-day moving average price is $34.56.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 4,325 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the sale, the insider now directly owns 145,953 shares of the company’s stock, valued at $4,758,067.80. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares of the company’s stock, valued at approximately $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,270,085 shares of company stock valued at $225,838,863. Company insiders own 28.40% of the company’s stock.

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.