Verition Fund Management LLC Buys Shares of 18,162 nCino, Inc. (NASDAQ:NCNO)

Verition Fund Management LLC bought a new stake in nCino, Inc. (NASDAQ:NCNOGet Rating) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 18,162 shares of the company’s stock, valued at approximately $744,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NCNO. Principal Financial Group Inc. lifted its holdings in nCino by 5.3% in the 4th quarter. Principal Financial Group Inc. now owns 6,075 shares of the company’s stock valued at $333,000 after purchasing an additional 306 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in nCino by 22.7% in the 4th quarter. Teacher Retirement System of Texas now owns 5,597 shares of the company’s stock valued at $307,000 after purchasing an additional 1,036 shares in the last quarter. Rhumbline Advisers lifted its holdings in nCino by 7.3% in the 4th quarter. Rhumbline Advisers now owns 51,484 shares of the company’s stock valued at $2,824,000 after purchasing an additional 3,520 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in nCino in the 4th quarter valued at about $282,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of nCino by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,610 shares of the company’s stock worth $16,711,000 after acquiring an additional 6,813 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at nCino

In other nCino news, VP Jeanette Sellers sold 974 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $32.34, for a total value of $31,499.16. Following the completion of the sale, the vice president now owns 21,072 shares of the company’s stock, valued at $681,468.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other nCino news, VP Jeanette Sellers sold 974 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $32.34, for a total value of $31,499.16. Following the completion of the sale, the vice president now owns 21,072 shares of the company’s stock, valued at $681,468.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Pierre Naude sold 11,120 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $32.34, for a total transaction of $359,620.80. Following the completion of the sale, the chief executive officer now directly owns 894,913 shares of the company’s stock, valued at approximately $28,941,486.42. The disclosure for this sale can be found here. Insiders sold 31,108 shares of company stock valued at $1,021,440 over the last 90 days. 37.20% of the stock is owned by corporate insiders.

nCino Stock Performance

NASDAQ NCNO opened at $33.97 on Friday. nCino, Inc. has a one year low of $23.94 and a one year high of $78.06. The company’s 50 day moving average price is $33.77 and its 200 day moving average price is $35.77. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -45.91 and a beta of 0.78.

nCino (NASDAQ:NCNOGet Rating) last issued its quarterly earnings data on Thursday, September 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.04. nCino had a negative net margin of 23.22% and a negative return on equity of 15.41%. The company had revenue of $99.63 million during the quarter, compared to the consensus estimate of $97.51 million. During the same quarter last year, the company earned ($0.10) earnings per share. nCino’s revenue for the quarter was up 49.8% on a year-over-year basis. Sell-side analysts forecast that nCino, Inc. will post -0.63 EPS for the current fiscal year.

Analyst Ratings Changes

NCNO has been the topic of several recent analyst reports. Barclays increased their price objective on shares of nCino from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, June 2nd. Moffett Nathanson initiated coverage on shares of nCino in a report on Thursday. They set a “market perform” rating and a $40.00 price objective on the stock. Morgan Stanley cut their price objective on shares of nCino from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, June 2nd. Truist Financial cut their price objective on shares of nCino from $70.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. Finally, Stephens cut their price objective on shares of nCino to $40.00 in a report on Friday, June 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.11.

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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