37,595 Shares in nCino Inc. $NCNO Acquired by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC acquired a new position in shares of nCino Inc. (NASDAQ:NCNO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 37,595 shares of the company’s stock, valued at approximately $964,000.

A number of other hedge funds have also recently made changes to their positions in NCNO. Bank of America Corp DE boosted its position in shares of nCino by 475.1% during the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after purchasing an additional 2,076,579 shares during the period. Wellington Management Group LLP purchased a new position in shares of nCino during the 3rd quarter worth approximately $36,962,000. Marshall Wace LLP boosted its position in shares of nCino by 687.3% during the 3rd quarter. Marshall Wace LLP now owns 1,171,749 shares of the company’s stock worth $31,766,000 after purchasing an additional 1,022,911 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of nCino during the 2nd quarter worth approximately $26,238,000. Finally, Algebris UK Ltd. boosted its position in shares of nCino by 266.2% during the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock worth $26,493,000 after purchasing an additional 750,744 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other nCino news, insider April Rieger sold 9,693 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $174,667.86. Following the transaction, the insider directly owned 383,601 shares of the company’s stock, valued at approximately $6,912,490.02. This trade represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $642,413.00. Following the transaction, the director directly owned 1,108,473 shares in the company, valued at $19,974,683.46. The trade was a 3.12% decrease in their ownership of the stock. 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 90 days, insiders sold 172,982 shares of company stock valued at $3,032,059. Company insiders own 1.90% of the company’s stock.

nCino Price Performance

Shares of NCNO opened at $15.41 on Thursday. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The firm’s fifty day simple moving average is $16.67 and its 200-day simple moving average is $19.44. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 128.42 and a beta of 0.69. 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 (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.21 by $0.16. nCino had a net margin of 2.17% and a return on equity of 6.85%. The firm had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. During the same period last year, the business earned $0.12 EPS. nCino’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities analysts forecast that nCino Inc. will post 0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Stephens lowered their price objective on shares of nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of nCino in a research report on Thursday, May 28th. Keefe, Bruyette & Woods decreased their price target on shares of nCino from $36.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Finally, Piper Sandler raised shares of nCino from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $30.00 to $22.00 in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.21.

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.