Diversify Wealth Management LLC Sells 73,531 Shares of nCino, Inc. (NASDAQ:NCNO)

Diversify Wealth Management LLC reduced its position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 82.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,148 shares of the company's stock after selling 73,531 shares during the period. Diversify Wealth Management LLC's holdings in nCino were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NCNO. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in nCino by 8.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company's stock valued at $244,766,000 after purchasing an additional 635,064 shares during the period. Vanguard Group Inc. boosted its stake in shares of nCino by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company's stock valued at $266,247,000 after buying an additional 148,390 shares during the period. Long Path Partners LP grew its position in nCino by 151.1% during the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company's stock worth $81,460,000 after buying an additional 1,558,529 shares in the last quarter. Meritage Group LP increased its stake in nCino by 2.3% during the 1st quarter. Meritage Group LP now owns 1,750,954 shares of the company's stock worth $65,451,000 after acquiring an additional 39,828 shares during the period. Finally, Capital International Investors acquired a new position in nCino in the 1st quarter valued at $60,703,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NCNO has been the topic of several analyst reports. Truist Financial reissued a "buy" rating and set a $44.00 target price (up from $37.00) on shares of nCino in a report on Monday, October 21st. Piper Sandler reiterated an "overweight" rating and set a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Raymond James upgraded shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 target price for the company in a research report on Tuesday, September 3rd. William Blair reaffirmed an "outperform" rating on shares of nCino in a report on Wednesday, August 28th. Finally, Macquarie reissued an "outperform" rating and issued a $40.00 price objective on shares of nCino in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, nCino presently has an average rating of "Moderate Buy" and an average target price of $38.82.

Insider Activity at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the company's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at approximately $9,705,064.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, 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 transaction, the director now directly owns 226,201 shares of the company's stock, valued at $8,482,537.50. 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. Also, CFO Gregory Orenstein sold 3,885 shares of the company's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the sale, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,035,584 shares of company stock worth $144,146,625 in the last quarter. 28.40% of the stock is owned by insiders.

nCino Trading Up 0.1 %

Shares of NASDAQ NCNO traded up $0.03 during midday trading on Friday, reaching $37.33. 774,376 shares of the company were exchanged, compared to its average volume of 1,073,301. The stock's 50-day moving average price is $32.61 and its 200-day moving average price is $31.81. 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 one year low of $27.47 and a one year high of $38.94.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. nCino's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, research analysts predict that nCino, Inc. will post 0.05 EPS for the current year.

nCino 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.