Loomis Sayles & Co. L P Sells 80,449 Shares of nCino Inc. $NCNO

Loomis Sayles & Co. L P trimmed its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 15.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,062 shares of the company’s stock after selling 80,449 shares during the period. Loomis Sayles & Co. L P’s holdings in nCino were worth $12,644,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. grew its holdings in nCino by 50.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,867,463 shares of the company’s stock worth $133,710,000 after acquiring an additional 1,626,446 shares during the period. Norges Bank acquired a new stake in shares of nCino during the second quarter worth $26,205,000. Vanguard Group Inc. increased its holdings in nCino by 7.7% in the first quarter. Vanguard Group Inc. now owns 11,666,955 shares of the company’s stock valued at $320,491,000 after purchasing an additional 836,182 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in nCino by 24.0% in the second quarter. Conestoga Capital Advisors LLC now owns 2,669,920 shares of the company’s stock valued at $74,678,000 after purchasing an additional 516,635 shares during the last quarter. Finally, Pier Capital LLC acquired a new position in nCino in the second quarter valued at about $8,104,000. 94.76% of the stock is owned by institutional investors.

nCino Stock Up 0.2%

Shares of NCNO stock opened at $24.70 on Monday. nCino Inc. has a 12-month low of $18.75 and a 12-month high of $42.88. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average of $25.85 and a 200-day moving average of $27.48. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -85.17, a P/E/G ratio of 15.56 and a beta of 0.53.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stephens upgraded nCino from a “hold” rating to an “overweight” rating in a research report on Monday, October 27th. Barclays boosted their price objective on shares of nCino from $31.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. Robert W. Baird increased their target price on shares of nCino from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 27th. Raymond James Financial raised shares of nCino from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research report on Monday, October 20th. Finally, Piper Sandler boosted their price target on shares of nCino from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, nCino has a consensus rating of “Moderate Buy” and a consensus price target of $33.94.

Insider Activity

In related news, CEO Sean Desmond sold 10,006 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $25.81, for a total transaction of $258,254.86. Following the completion of the transaction, the chief executive officer directly owned 618,597 shares in the company, valued at approximately $15,965,988.57. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pierre Naude sold 4,881 shares of nCino stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $25.81, for a total value of $125,978.61. Following the completion of the sale, the director directly owned 1,187,580 shares in the company, valued at approximately $30,651,439.80. This represents a 0.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,940,562 shares of company stock worth $118,143,440. 5.70% of the stock is currently owned by insiders.

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.