New York State Common Retirement Fund Decreases Holdings in nCino, Inc. (NASDAQ:NCNO)

New York State Common Retirement Fund cut its position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 18.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 579,468 shares of the company's stock after selling 127,749 shares during the period. New York State Common Retirement Fund owned 0.50% of nCino worth $18,305,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NCNO. Bamco Inc. NY grew its stake in nCino by 83.7% in the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company's stock valued at $34,576,000 after acquiring an additional 421,500 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of nCino during the second quarter worth about $3,530,000. Clearbridge Investments LLC raised its position in shares of nCino by 14.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company's stock worth $45,985,000 after purchasing an additional 157,470 shares during the last quarter. Select Equity Group L.P. lifted its stake in nCino by 182.0% in the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company's stock valued at $800,000 after buying an additional 16,416 shares in the last quarter. Finally, Motley Fool Asset Management LLC acquired a new stake in nCino in the 1st quarter worth about $1,175,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Activity at nCino

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

nCino Price Performance

NCNO traded up $2.60 on Wednesday, hitting $40.15. The company had a trading volume of 2,529,738 shares, compared to its average volume of 1,398,078. The company's fifty day moving average price is $32.76 and its 200 day moving average price is $31.99. nCino, Inc. has a 1 year low of $27.47 and a 1 year high of $40.60. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, topping 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 analyst estimates of $131.06 million. During the same period in the prior year, the business posted ($0.02) EPS. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts expect that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Needham & Company LLC reduced their price objective on nCino from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, August 28th. Raymond James upgraded nCino from a "market perform" rating to an "outperform" rating and set a $38.00 price target for the company in a research report on Tuesday, September 3rd. Stephens reiterated an "equal weight" rating and set a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. JMP Securities reissued a "market outperform" rating and set a $43.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of nCino in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, nCino presently has an average rating of "Moderate Buy" and an average price target of $38.82.

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.