Olympiad Research LP Makes New Investment in nCino, Inc. (NASDAQ:NCNO)

Olympiad Research LP bought a new stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,962 shares of the company's stock, valued at approximately $789,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Management One Co. Ltd. boosted its position in nCino by 21.1% during 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 last quarter. Malaga Cove Capital LLC boosted its holdings in shares of nCino by 3.0% during the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company's stock worth $430,000 after purchasing an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of nCino by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company's stock valued at $459,000 after purchasing an additional 508 shares in the last quarter. First Bank & Trust increased its holdings in shares of nCino by 5.7% in the second quarter. First Bank & Trust now owns 10,188 shares of the company's stock valued at $320,000 after purchasing an additional 546 shares during the last quarter. Finally, Precision Wealth Strategies LLC increased its holdings in shares of nCino by 4.5% in the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company's stock valued at $428,000 after purchasing an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

nCino Stock Up 4.6 %

NASDAQ NCNO traded up $1.84 during trading hours on Thursday, hitting $41.99. 1,687,006 shares of the company were exchanged, compared to its average volume of 1,079,259. 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 firm has a market cap of $4.85 billion, a price-to-earnings ratio of -148.70, a PEG ratio of 30.53 and a beta of 0.55. The company has a 50 day moving average of $32.97 and a two-hundred day moving average of $32.05. nCino, Inc. has a 52-week low of $27.47 and a 52-week high of $42.05.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results 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. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm had revenue of $132.40 million for the quarter, compared to analysts' expectations of $131.06 million. During the same quarter last year, the company earned ($0.02) earnings per share. The firm's revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that nCino, Inc. will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In other nCino news, Director Jeff Horing sold 800,002 shares of nCino stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the completion of the sale, the director now directly owns 16,649,942 shares of the company's stock, valued at $552,112,076.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other nCino news, Director William J. Ruh sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the sale, the director now owns 226,201 shares of the company's stock, valued at approximately $8,482,537.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeff Horing sold 800,002 shares of the company's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the completion of the transaction, the director now owns 16,649,942 shares of the company's stock, valued at approximately $552,112,076.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,035,584 shares of company stock worth $144,146,625. Corporate insiders own 28.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NCNO. Stephens restated an "equal weight" rating and issued a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. JMP Securities reaffirmed a "market outperform" rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Truist Financial reissued a "buy" rating and issued a $44.00 price target (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Raymond James raised shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC lowered their price objective on nCino from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, nCino presently has an average rating of "Moderate Buy" and a consensus target price of $38.82.

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.