Summit Trail Advisors LLC Trims Stake in nCino, Inc. (NASDAQ:NCNO)

Summit Trail Advisors LLC reduced its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,113 shares of the company's stock after selling 8,636 shares during the quarter. Summit Trail Advisors LLC's holdings in nCino were worth $1,448,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NCNO. 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 valued at $62,000 after purchasing an additional 341 shares during the last quarter. Malaga Cove Capital LLC raised its position in nCino by 3.0% in the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company's stock valued at $430,000 after purchasing an additional 400 shares during the last quarter. Berry Wealth Group LP raised its position in nCino by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after purchasing an additional 400 shares during the last quarter. Precision Wealth Strategies LLC raised its position in 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. Finally, Natixis Advisors LLC raised its position in nCino by 5.9% in the third quarter. Natixis Advisors LLC now owns 14,711 shares of the company's stock valued at $465,000 after purchasing an additional 822 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on NCNO. Scotiabank increased their target price on nCino from $36.00 to $46.00 and gave the company a "sector outperform" rating in a research report on Wednesday, December 4th. Robert W. Baird dropped their target price on nCino from $43.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, December 5th. Keefe, Bruyette & Woods raised their price objective on nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a research report on Monday, December 2nd. Macquarie raised their price objective on nCino from $40.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, nCino presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.

nCino Stock Down 0.4 %

nCino stock traded down $0.15 during mid-day trading on Friday, reaching $34.25. The stock had a trading volume of 1,107,439 shares, compared to its average volume of 1,011,635. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino, Inc. has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The stock's 50-day simple moving average is $34.01 and its 200-day simple moving average is $34.56. The firm has a market capitalization of $3.97 billion, a PE ratio of -201.46, a price-to-earnings-growth ratio of 5.70 and a beta of 0.65.

Insider Activity at nCino

In related news, insider April Rieger sold 4,325 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now owns 145,953 shares of the company's stock, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory Orenstein sold 5,148 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares in the company, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,270,085 shares of company stock valued at $225,838,863 over the last 90 days. 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.