Atria Investments Inc Takes $1.04 Million Position in nCino, Inc. (NASDAQ:NCNO)

Posted by Defense World Staff on Aug 28th, 2023

Atria Investments Inc purchased a new stake in nCino, Inc. (NASDAQ:NCNO – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 42,077 shares of the company’s stock, valued at approximately $1,043,000.

Several other hedge funds and other institutional investors have also modified their holdings of NCNO. State of Wyoming boosted its stake in nCino by 56.8% during the 4th quarter. State of Wyoming now owns 1,350 shares of the company’s stock valued at $36,000 after purchasing an additional 489 shares during the period. Global Retirement Partners LLC boosted its stake in nCino by 62.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,705 shares of the company’s stock valued at $38,000 after purchasing an additional 656 shares during the period. Spire Wealth Management boosted its stake in nCino by 56.9% during the 1st quarter. Spire Wealth Management now owns 2,055 shares of the company’s stock valued at $51,000 after purchasing an additional 745 shares during the period. Asset Management One Co. Ltd. boosted its stake in nCino by 37.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,222 shares of the company’s stock valued at $58,000 after purchasing an additional 603 shares during the period. Finally, UBS Group AG boosted its stake in nCino by 218.7% during the 3rd quarter. UBS Group AG now owns 1,807 shares of the company’s stock valued at $62,000 after purchasing an additional 1,240 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of nCino in a research note on Wednesday, July 12th. They set a “neutral” rating and a $32.00 target price for the company. Piper Sandler boosted their price target on shares of nCino from $22.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. Stephens boosted their price target on shares of nCino from $27.00 to $34.00 in a research report on Wednesday, June 21st. 888 restated a “reiterates” rating on shares of nCino in a research report on Thursday, June 1st. Finally, Barclays boosted their price target on shares of nCino from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 22nd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.54.

Get Our Latest Research Report on nCino

Insider Buying and Selling at nCino

In other nCino news, VP Jeanette Sellers sold 1,170 shares of nCino stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $24.05, for a total value of $28,138.50. Following the transaction, the vice president now owns 28,291 shares of the company’s stock, valued at $680,398.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Matthew Royce Hansen sold 84,615 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $31.13, for a total transaction of $2,634,064.95. Following the transaction, the insider now directly owns 1,340,476 shares in the company, valued at $41,729,017.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jeanette Sellers sold 1,170 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $24.05, for a total transaction of $28,138.50. Following the transaction, the vice president now owns 28,291 shares in the company, valued at $680,398.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 260,737 shares of company stock valued at $7,962,121. 38.20% of the stock is currently owned by corporate insiders.

nCino Stock Performance

nCino stock opened at $28.69 on Monday. The company’s 50 day simple moving average is $30.30 and its 200 day simple moving average is $26.94. nCino, Inc. has a fifty-two week low of $19.58 and a fifty-two week high of $38.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.95 and a quick ratio of 0.95.

nCino (NASDAQ:NCNO – Get Free Report) last released its quarterly earnings data on Wednesday, May 31st. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. nCino had a negative net margin of 19.47% and a negative return on equity of 4.03%. The business had revenue of $113.67 million for the quarter, compared to analyst estimates of $112.50 million. As a group, equities analysts anticipate that nCino, Inc. will post -0.03 EPS for the current fiscal year.

nCino Profile

(Free Report)

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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.