Sigma Planning Corp Makes New Investment in nCino Inc. $NCNO

Sigma Planning Corp purchased a new stake in nCino Inc. (NASDAQ:NCNO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 72,500 shares of the company’s stock, valued at approximately $1,185,000. Sigma Planning Corp owned approximately 0.07% of nCino at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NCNO. Hawk Ridge Capital Management LP grew its holdings in shares of nCino by 625.4% during the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after buying an additional 3,864,010 shares during the last quarter. American Capital Management Inc. purchased a new stake in shares of nCino in the second quarter worth approximately $83,508,000. Algebris UK Ltd. lifted its holdings in shares of nCino by 266.2% in the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock valued at $26,493,000 after purchasing an additional 750,744 shares in the last quarter. Spyglass Capital Management LLC boosted its position in shares of nCino by 6.0% during the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock valued at $46,217,000 after buying an additional 175,357 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of nCino during the fourth quarter valued at approximately $3,982,000. Institutional investors own 94.76% of the company’s stock.

Insider Transactions at nCino

In other news, insider April Rieger sold 7,852 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $150,915.44. Following the sale, the insider owned 375,749 shares of the company’s stock, valued at $7,221,895.78. The trade was a 2.05% decrease in their ownership of the stock. The transaction 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 4,677 shares of nCino stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $89,891.94. Following the completion of the transaction, the director owned 1,116,707 shares of the company’s stock, valued at $21,463,108.54. This represents a 0.42% decrease in their ownership of the stock. 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 90 days, insiders sold 75,976 shares of company stock valued at $1,452,687. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on NCNO shares. UBS Group reiterated a “buy” rating on shares of nCino in a research note on Wednesday, August 26th. Barclays boosted their price target on shares of nCino from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Citizens Jmp boosted their target price on nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 26th. Truist Financial upped their target price on nCino from $19.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, August 26th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of nCino in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.38.

nCino Stock Down 1.3%

nCino stock opened at $22.30 on Wednesday. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $31.92. The firm has a 50 day moving average price of $18.67 and a 200-day moving average price of $17.02. The company has a market capitalization of $2.36 billion, a P/E ratio of 74.33 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34.

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.