Conestoga Capital Advisors LLC Cuts Stake in nCino Inc. $NCNO

Conestoga Capital Advisors LLC lowered its stake in shares of nCino Inc. (NASDAQ:NCNO) by 4.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,724,354 shares of the company’s stock after selling 136,670 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in nCino were worth $40,811,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. CWM LLC boosted its position in shares of nCino by 255.8% during the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in nCino in the 4th quarter valued at $38,000. Farther Finance Advisors LLC increased its holdings in nCino by 76.2% in the 4th 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 stake in nCino by 138.2% in the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after purchasing an additional 987 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in nCino in the 3rd quarter worth $65,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Stock Performance

Shares of NASDAQ:NCNO opened at $17.15 on Thursday. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $33.92. The stock has a market capitalization of $1.88 billion, a P/E ratio of 142.92 and a beta of 0.68. The firm has a fifty day simple moving average of $15.99 and a two-hundred day simple moving average of $18.43. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31.

nCino (NASDAQ:NCNO) last posted its 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. The firm had revenue of $149.67 million for the quarter, compared to the consensus estimate of $147.41 million. nCino had a net margin of 2.17% and a return on equity of 6.85%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. On average, analysts expect that nCino Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded nCino from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Citizens Jmp dropped their price target 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. Morgan Stanley cut their price target on nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. lifted their price objective on nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.29.

Insiders Place Their Bets

In other nCino news, CEO Sean Desmond sold 8,064 shares of nCino stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $16.26, for a total transaction of $131,120.64. Following the completion of the transaction, the chief executive officer directly owned 1,262,492 shares of the company’s stock, valued at $20,528,119.92. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gregory Orenstein sold 14,650 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the completion of the sale, the chief financial officer directly owned 702,293 shares in the company, valued at approximately $12,655,319.86. This represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 129,213 shares of company stock worth $2,298,929. 1.90% of the stock is currently owned by company insiders.

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.