Walleye Capital LLC Purchases 24,107 Shares of nCino, Inc. (NASDAQ:NCNO)

Walleye Capital LLC lifted its position in shares of nCino, Inc. (NASDAQ:NCNOGet Rating) by 225.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 34,801 shares of the company’s stock after acquiring an additional 24,107 shares during the quarter. Walleye Capital LLC’s holdings in nCino were worth $1,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of nCino by 5.3% during the 4th quarter. Principal Financial Group Inc. now owns 6,075 shares of the company’s stock worth $333,000 after purchasing an additional 306 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of nCino by 22.7% during the 4th quarter. Teacher Retirement System of Texas now owns 5,597 shares of the company’s stock worth $307,000 after purchasing an additional 1,036 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of nCino by 43.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,540,199 shares of the company’s stock worth $139,355,000 after purchasing an additional 769,036 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of nCino by 7.3% during the 4th quarter. Rhumbline Advisers now owns 51,484 shares of the company’s stock worth $2,824,000 after purchasing an additional 3,520 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of nCino during the 4th quarter worth $282,000. Institutional investors own 89.71% of the company’s stock.

nCino Stock Down 4.6 %

Shares of NASDAQ:NCNO opened at $35.24 on Friday. nCino, Inc. has a 52-week low of $23.94 and a 52-week high of $79.43. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -47.62 and a beta of 0.78. The business has a 50-day moving average price of $33.47 and a 200-day moving average price of $36.06.

nCino (NASDAQ:NCNOGet Rating) last announced its quarterly earnings data on Thursday, September 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.04. nCino had a negative return on equity of 15.41% and a negative net margin of 23.22%. The firm had revenue of $99.63 million during the quarter, compared to analysts’ expectations of $97.51 million. During the same period last year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. As a group, equities analysts anticipate that nCino, Inc. will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO David Rudow sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $32.37, for a total transaction of $356,070.00. Following the sale, the chief financial officer now directly owns 161,961 shares of the company’s stock, valued at $5,242,677.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO David Rudow sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $32.37, for a total transaction of $356,070.00. Following the sale, the chief financial officer now directly owns 161,961 shares of the company’s stock, valued at $5,242,677.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jeanette Sellers sold 974 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $32.34, for a total value of $31,499.16. Following the sale, the vice president now directly owns 21,072 shares in the company, valued at $681,468.48. The disclosure for this sale can be found here. Insiders have sold a total of 31,108 shares of company stock valued at $1,021,440 over the last ninety days. Company insiders own 37.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NCNO. Truist Financial decreased their price objective on nCino from $70.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, September 2nd. KeyCorp decreased their price target on nCino from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, September 2nd. Stephens decreased their price target on nCino to $40.00 in a research note on Friday, June 3rd. Needham & Company LLC decreased their price target on nCino from $60.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, June 2nd. Finally, Morgan Stanley decreased their price target on nCino from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, June 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

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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