Clearbridge Investments LLC Has $45.99 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Clearbridge Investments LLC increased its stake in nCino, Inc. (NASDAQ:NCNO) by 14.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,230,194 shares of the company’s stock after purchasing an additional 157,470 shares during the quarter. Clearbridge Investments LLC owned approximately 1.08% of nCino worth $45,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NCNO. Raymond James & Associates raised its stake in nCino by 6.8% during the 4th quarter. Raymond James & Associates now owns 346,306 shares of the company’s stock valued at $11,646,000 after purchasing an additional 22,145 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in nCino in the 4th quarter worth about $228,000. Portside Wealth Group LLC boosted its position in nCino by 6.7% during the 4th quarter. Portside Wealth Group LLC now owns 30,490 shares of the company’s stock worth $1,025,000 after acquiring an additional 1,926 shares during the period. Trust Co of the South purchased a new position in nCino during the 4th quarter valued at about $4,430,000. Finally, Strs Ohio acquired a new position in shares of nCino in the 4th quarter valued at about $990,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Performance

Shares of NASDAQ NCNO traded up $0.16 during trading hours on Tuesday, hitting $33.30. 2,272,795 shares of the stock were exchanged, compared to its average volume of 994,039. The firm has a market capitalization of $3.83 billion, a P/E ratio of -107.42, a P/E/G ratio of 17.45 and a beta of 0.59. The company’s 50 day moving average is $31.30 and its 200 day moving average is $31.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 1.07. nCino, Inc. has a one year low of $27.13 and a one year high of $37.48.

nCino (NASDAQ:NCNO) last announced its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share (EPS) for the quarter. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. The business had revenue of $128.09 million for the quarter, compared to analyst estimates of $126.59 million. On average, research analysts expect that nCino, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

NCNO has been the topic of several research reports. JMP Securities started coverage on shares of nCino in a research note on Monday. They issued an “outperform” rating and a $43.00 price objective on the stock. Keefe, Bruyette & Woods began coverage on nCino in a research report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price on shares of nCino in a research report on Monday, July 1st. Robert W. Baird lowered their price target on nCino from $37.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of nCino in a research note on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, nCino has an average rating of “Moderate Buy” and an average target price of $36.64.

Insider Buying and Selling

In other news, Director Jeff Horing sold 126,641 shares of nCino stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $31.01, for a total transaction of $3,927,137.41. Following the sale, the director now owns 19,386,826 shares of the company’s stock, valued at approximately $601,185,474.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeff Horing sold 126,641 shares of nCino stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $31.01, for a total transaction of $3,927,137.41. Following the sale, the director now directly owns 19,386,826 shares in the company, valued at approximately $601,185,474.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jeanette Sellers sold 2,153 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $30.33, for a total transaction of $65,300.49. Following the completion of the sale, the vice president now directly owns 27,360 shares in the company, valued at approximately $829,828.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,515,555 shares of company stock valued at $141,322,714 over the last three months. 28.40% of the stock is owned by corporate insiders.

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.