nCino Inc. $NCNO Stock Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC lowered its stake in nCino Inc. (NASDAQ:NCNO) by 21.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,670,675 shares of the company’s stock after selling 449,790 shares during the period. Conestoga Capital Advisors LLC’s holdings in nCino were worth $30,289,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NCNO. BlackRock Inc. purchased a new stake in shares of nCino during the second quarter valued at approximately $147,492,000. Senvest Management LLC increased its stake in shares of nCino by 30.2% in the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after buying an additional 1,230,192 shares during the period. Bank of America Corp DE purchased a new position in shares of nCino in the second quarter worth $84,319,000. American Capital Management Inc. purchased a new position in shares of nCino in the second quarter worth $83,508,000. Finally, HMI Capital Management L.P. bought a new stake in nCino during the 2nd quarter valued at $81,598,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Trading Up 3.6%

NASDAQ NCNO opened at $23.44 on Thursday. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $27.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day simple moving average of $21.20 and a two-hundred day simple moving average of $18.32. The stock has a market cap of $2.48 billion, a P/E ratio of 78.13 and a beta of 0.77.

Analysts Set New Price Targets

Several brokerages have weighed in on NCNO. Piper Sandler initiated coverage on shares of nCino in a research report on Monday, August 24th. They set an “overweight” rating and a $25.00 price target for the company. Morgan Stanley raised their price target on shares of nCino from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Truist Financial boosted their price objective on shares of nCino from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, August 26th. BTIG Research reaffirmed a “neutral” rating on shares of nCino in a research note on Wednesday, August 26th. Finally, Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.42.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 43,992 shares of the firm’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $19.90, for a total value of $875,440.80. Following the completion of the sale, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at $24,498,492. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider April Rieger sold 6,098 shares of nCino stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $21.98, for a total transaction of $134,034.04. Following the completion of the sale, the insider owned 369,651 shares in the company, valued at approximately $8,124,928.98. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 66,908 shares of company stock worth $1,366,648 over the last three months. Insiders own 1.90% of the company’s stock.

About nCino

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.