nCino Inc. $NCNO Holdings Decreased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in nCino Inc. by 19.2%, selling 224,850 shares, and now holds approximately 0.82% of the company valued at $26 million.
• Insider transactions included Director Pierre Naude selling 4,659 shares and CEO Sean Desmond selling 9,550 shares, both at an average price of $27.45.
• nCino reported a quarterly revenue of $144.14 million, exceeding estimates, and is projected to achieve 0.12 EPS for the current fiscal year.

Raymond James Financial Inc. cut its holdings in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 946,491 shares of the company's stock after selling 224,850 shares during the period. Raymond James Financial Inc. owned about 0.82% of nCino worth $26,000,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new stake in shares of nCino during the fourth quarter valued at about $57,000. Covestor Ltd grew its stake in shares of nCino by 27.6% during the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock valued at $66,000 after acquiring an additional 517 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of nCino by 22.5% during the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock valued at $80,000 after acquiring an additional 538 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of nCino during the first quarter valued at about $82,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of nCino by 63.1% during the first quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock valued at $102,000 after acquiring an additional 1,439 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at nCino

In other news, CEO Sean Desmond sold 9,550 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $27.45, for a total transaction of $262,147.50. Following the completion of the sale, the chief executive officer directly owned 628,603 shares of the company's stock, valued at $17,255,152.35. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gregory Orenstein sold 4,155 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $27.45, for a total value of $114,054.75. Following the sale, the chief financial officer directly owned 466,099 shares of the company's stock, valued at approximately $12,794,417.55. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,603 shares of company stock valued at $593,002 in the last three months. 5.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James Financial raised their target price on nCino from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday. Stephens lifted their price target on shares of nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Barclays lifted their price target on shares of nCino from $31.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday. Bank of America lifted their price target on shares of nCino from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of nCino from $28.00 to $33.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.94.

nCino Price Performance

Shares of NASDAQ:NCNO traded up $0.01 during trading on Friday, reaching $32.11. The company had a trading volume of 2,275,046 shares, compared to its average volume of 1,923,674. The firm's fifty day moving average is $28.72 and its 200 day moving average is $27.36. The firm has a market capitalization of $3.72 billion, a PE ratio of -110.72, a price-to-earnings-growth ratio of 25.71 and a beta of 0.71. nCino Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.03 and a current ratio of 1.03.

nCino (NASDAQ:NCNO - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The firm had revenue of $148.82 million for the quarter, compared to analyst estimates of $143.17 million. nCino had a positive return on equity of 1.18% and a negative net margin of 5.86%.nCino's revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. nCino has set its FY 2026 guidance at 0.770-0.800 EPS. Q3 2026 guidance at 0.200-0.21 EPS. On average, equities analysts forecast that nCino Inc. will post 0.12 EPS for the current year.

nCino Company 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.