SG Americas Securities LLC Acquires New Position in nCino, Inc. (NASDAQ:NCNO)

SG Americas Securities LLC acquired a new stake in nCino, Inc. (NASDAQ:NCNOGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,595 shares of the company’s stock, valued at approximately $639,000.

A number of other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in nCino during the fourth quarter worth about $27,000. Tilia Fiduciary Partners Inc. acquired a new stake in nCino in the first quarter valued at approximately $39,000. Lazard Asset Management LLC raised its holdings in nCino by 52.8% in the fourth quarter. Lazard Asset Management LLC now owns 938 shares of the company’s stock valued at $51,000 after acquiring an additional 324 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in nCino in the first quarter valued at approximately $137,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in nCino by 96.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,650 shares of the company’s stock valued at $145,000 after acquiring an additional 1,300 shares in the last quarter.

Analysts Set New Price Targets

NCNO has been the topic of several analyst reports. KeyCorp reduced their target price on shares of nCino from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Needham & Company LLC lowered their target price on shares of nCino from $60.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Truist Financial lowered their price objective on shares of nCino from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Morgan Stanley lowered their price objective on shares of nCino from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, June 2nd. Finally, Stephens decreased their target price on shares of nCino to $40.00 in a research report on Friday, June 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.44.

nCino Price Performance

NASDAQ:NCNO opened at $35.58 on Thursday. The firm has a market capitalization of $3.92 billion, a PE ratio of -56.48 and a beta of 0.82. The business’s 50-day moving average is $32.88 and its two-hundred day moving average is $38.42. nCino, Inc. has a 12 month low of $23.94 and a 12 month high of $79.43.

nCino (NASDAQ:NCNOGet Rating) last announced its quarterly earnings results on Wednesday, June 1st. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). nCino had a negative return on equity of 13.52% and a negative net margin of 21.30%. The company had revenue of $94.21 million for the quarter, compared to analyst estimates of $91.42 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 51.1% compared to the same quarter last year. Equities analysts anticipate that nCino, Inc. will post -0.72 EPS for the current year.

Insider Activity

In other news, Director Jeffrey W. Lunsford sold 60,000 shares of nCino stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $36.38, for a total transaction of $2,182,800.00. Following the transaction, the director now directly owns 113,404 shares in the company, valued at approximately $4,125,637.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO David Rudow sold 25,424 shares of nCino stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $35.01, for a total transaction of $890,094.24. Following the transaction, the chief financial officer now directly owns 172,961 shares in the company, valued at approximately $6,055,364.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Lunsford sold 60,000 shares of nCino stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $36.38, for a total value of $2,182,800.00. Following the transaction, the director now owns 113,404 shares in the company, valued at $4,125,637.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,055 shares of company stock worth $5,419,491. 37.20% of the stock is owned by company insiders.

nCino Company Profile

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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 tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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Institutional Ownership by Quarter for nCino (NASDAQ:NCNO)

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