109,424 Shares in nCino Inc. $NCNO Acquired by CM Wealth Advisors LLC

CM Wealth Advisors LLC bought a new position in nCino Inc. (NASDAQ:NCNO) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 109,424 shares of the company’s stock, valued at approximately $1,789,000. nCino comprises 0.3% of CM Wealth Advisors LLC’s investment portfolio, making the stock its 25th largest holding.

A number of other large investors also recently made changes to their positions in the business. CWM LLC boosted its stake in nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after buying an additional 821 shares during the last quarter. Optiver Holding B.V. purchased a new stake in nCino during the first quarter worth approximately $32,000. Los Angeles Capital Management LLC acquired a new stake in nCino in the 4th quarter valued at $38,000. Versant Capital Management Inc grew its stake in shares of nCino by 664.9% in the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after buying an additional 2,101 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in nCino by 76.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after acquiring an additional 722 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Stock Performance

Shares of NCNO stock opened at $20.69 on Thursday. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The business has a 50 day simple moving average of $17.44 and a 200 day simple moving average of $16.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 172.42 and a beta of 0.66.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 11,780 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $226,411.60. Following the transaction, the chief financial officer owned 690,513 shares in the company, valued at approximately $13,271,659.86. This represents a 1.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 4,677 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $89,891.94. Following the completion of the transaction, the director owned 1,116,707 shares in the company, valued at $21,463,108.54. This represents a 0.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 83,350 shares of company stock worth $1,568,144 over the last three months. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. Citizens Jmp lowered their price objective on nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a research note on Monday, May 18th. Weiss Ratings upgraded nCino from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of nCino in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group reduced their target price on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.29.

nCino Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.