American Capital Management Inc. Boosts Position in nCino Inc. $NCNO

American Capital Management Inc. grew its stake in nCino Inc. (NASDAQ:NCNO) by 17.1% in the 1st quarter, Holdings Channel reports. The firm owned 2,375,396 shares of the company’s stock after purchasing an additional 347,587 shares during the period. nCino makes up about 1.9% of American Capital Management Inc.’s portfolio, making the stock its 24th biggest position. American Capital Management Inc.’s holdings in nCino were worth $35,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Senvest Management LLC increased its position in shares of nCino by 30.2% during the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after buying an additional 1,230,192 shares during the period. Hawk Ridge Capital Management LP boosted its position in nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after acquiring an additional 3,864,010 shares in the last quarter. Spyglass Capital Management LLC grew its holdings in shares of nCino by 35.4% during the 4th quarter. Spyglass Capital Management LLC now owns 2,909,880 shares of the company’s stock worth $74,609,000 after acquiring an additional 760,790 shares during the period. Conestoga Capital Advisors LLC grew its holdings in shares of nCino by 25.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company’s stock worth $73,357,000 after acquiring an additional 585,786 shares during the period. Finally, Bank of America Corp DE raised its position in shares of nCino by 475.1% in the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after acquiring an additional 2,076,579 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other nCino news, insider April Rieger sold 9,693 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $174,667.86. Following the transaction, the insider owned 383,601 shares of the company’s stock, valued at approximately $6,912,490.02. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $263,993.00. Following the completion of the transaction, the chief financial officer owned 702,293 shares in the company, valued at $12,655,319.86. This trade represents a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 119,964 shares of company stock worth $2,143,529. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group decreased their price objective on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Stephens reduced their target price on shares of nCino from $34.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Piper Sandler raised shares of nCino from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $30.00 to $22.00 in a research report on Wednesday, April 1st. Robert W. Baird decreased their price target on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Finally, Morgan Stanley lowered their price target on shares of nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.29.

nCino Stock Up 6.6%

nCino stock opened at $17.65 on Tuesday. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The stock has a fifty day simple moving average of $16.18 and a two-hundred day simple moving average of $17.42. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 147.08 and a beta of 0.68.

About nCino

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.