nCino Inc. (NASDAQ:NCNO) Shares Sold by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC reduced its holdings in nCino Inc. by 4.0% in Q1, selling 10,373 shares and owning approximately 250,132 shares valued at $6.87 million.
• Major institutional investors like Vanguard Group and TD Asset Management Inc. have increased their stakes in nCino by 7.7% and 43.6%, respectively, indicating bullish sentiment among large shareholders.
• Analyst ratings for nCino are generally positive, with an average target price of $31.13 and multiple firms issuing "outperform" ratings, highlighting strong potential for future growth.

Townsquare Capital LLC trimmed its holdings in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,132 shares of the company's stock after selling 10,373 shares during the quarter. Townsquare Capital LLC owned approximately 0.22% of nCino worth $6,871,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Swiss National Bank raised its stake in shares of nCino by 4.8% during the 1st quarter. Swiss National Bank now owns 190,600 shares of the company's stock worth $5,236,000 after buying an additional 8,800 shares during the period. Vanguard Group Inc. raised its stake in nCino by 7.7% in the 1st 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. Malaga Cove Capital LLC raised its stake in nCino by 30.1% in the 1st quarter. Malaga Cove Capital LLC now owns 36,201 shares of the company's stock valued at $994,000 after purchasing an additional 8,384 shares during the last quarter. Algebris UK Ltd acquired a new position in nCino in the 1st quarter valued at $6,689,000. Finally, TD Asset Management Inc raised its stake in nCino by 43.6% in the 1st quarter. TD Asset Management Inc now owns 69,480 shares of the company's stock valued at $1,909,000 after purchasing an additional 21,088 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at nCino

In related news, CFO Gregory Orenstein sold 4,155 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $27.45, for a total transaction of $114,054.75. Following the transaction, the chief financial officer owned 466,099 shares in the company, valued at $12,794,417.55. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider April Rieger sold 3,028 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $27.45, for a total value of $83,118.60. Following the transaction, the insider owned 240,523 shares in the company, valued at $6,602,356.35. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,603 shares of company stock worth $593,002. 5.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NCNO shares. Scotiabank reissued a "sector perform" rating and issued a $26.00 price objective (up from $19.00) on shares of nCino in a research note on Wednesday, May 21st. JPMorgan Chase & Co. started coverage on nCino in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $30.00 price objective for the company. Raymond James Financial reissued an "outperform" rating and issued a $35.00 price objective (up from $32.00) on shares of nCino in a research note on Tuesday, July 29th. Citigroup reissued an "outperform" rating on shares of nCino in a research note on Monday, June 9th. Finally, Barclays restated an "overweight" rating and issued a $31.00 target price (up from $24.00) on shares of nCino in a report on Thursday, May 29th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, nCino presently has an average rating of "Moderate Buy" and an average price target of $31.13.

nCino Price Performance

Shares of NASDAQ NCNO opened at $26.19 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05. nCino Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The firm has a market capitalization of $3.04 billion, a PE ratio of -100.73, a price-to-earnings-growth ratio of 26.09 and a beta of 0.77. The stock's 50-day simple moving average is $28.22 and its 200-day simple moving average is $27.89.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $144.14 million for the quarter, compared to analyst estimates of $139.77 million. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. As a group, equities research analysts forecast that nCino Inc. will post 0.12 EPS for the current fiscal year.

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.

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