Conestoga Capital Advisors LLC Sells 136,670 Shares of nCino Inc. $NCNO

Key Points

• Conestoga Capital Advisors trimmed its nCino stake by 4.8% in the first quarter, selling 136,670 shares and ending with 2,724,354 shares valued at about $40.8 million.
• nCino’s latest earnings beat estimates, with quarterly EPS of $0.37 versus $0.21 expected and revenue of $149.67 million, up 5.9% year over year.
• Insider selling and analyst views were mixed: CEO Sean Desmond and SVP Jeanette Sellers both sold shares, while Wall Street consensus remains a “Moderate Buy” with an average price target of $25.29.

Conestoga Capital Advisors LLC lowered its stake in nCino Inc. (NASDAQ:NCNO - Free Report) by 4.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,724,354 shares of the company's stock after selling 136,670 shares during the quarter. Conestoga Capital Advisors LLC owned 2.38% of nCino worth $40,811,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of nCino by 255.8% during the 4th quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $29,000 after buying an additional 821 shares during the period. Los Angeles Capital Management LLC purchased a new stake in nCino during the fourth quarter valued at $38,000. Farther Finance Advisors LLC increased its position in nCino by 76.2% during 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 during the last quarter. Quarry LP lifted its holdings in nCino by 138.2% in the third quarter. Quarry LP now owns 1,701 shares of the company's stock valued at $46,000 after acquiring an additional 987 shares during the period. Finally, Advisory Services Network LLC bought a new position in nCino in the third quarter valued at about $65,000. Institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NCNO shares. Robert W. Baird reduced their price target on shares of nCino from $34.00 to $24.00 and set an "outperform" rating for the company in a research report on Tuesday, March 31st. Barclays raised their price objective on shares of nCino from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. upped their target price on shares of nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. Stephens dropped their price target on shares of nCino from $34.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. Finally, Weiss Ratings raised shares of nCino from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, nCino presently has a consensus rating of "Moderate Buy" and an average price target of $25.29.

Insider Buying and Selling

In other news, CEO Sean Desmond sold 22,073 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $397,755.46. Following the transaction, the chief executive officer directly owned 1,271,016 shares in the company, valued at $22,903,708.32. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 3,695 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total value of $66,657.80. Following the completion of the transaction, the senior vice president owned 50,876 shares in the company, valued at $917,803.04. The trade was a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 129,213 shares of company stock worth $2,298,929 in the last three months. Corporate insiders own 1.90% of the company's stock.

nCino Price Performance

NASDAQ NCNO opened at $17.15 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 142.92 and a beta of 0.68. The company's 50 day moving average is $15.99 and its two-hundred day moving average is $18.43.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.16. nCino had a net margin of 2.17% and a return on equity of 6.85%. The business had revenue of $149.67 million during the quarter, compared to analyst estimates of $147.41 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company's revenue was up 5.9% on a year-over-year basis. As a group, research analysts anticipate that nCino Inc. will post 0.68 earnings per share for the current year.

nCino Company 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.

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