NewEdge Wealth LLC Makes New Investment in nCino Inc. $NCNO

NewEdge Wealth LLC bought a new stake in shares of nCino Inc. (NASDAQ:NCNO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 64,407 shares of the company’s stock, valued at approximately $1,651,000. NewEdge Wealth LLC owned 0.06% of nCino as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NCNO. Bank of America Corp DE grew its holdings in shares of nCino by 475.1% during the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock valued at $68,146,000 after buying an additional 2,076,579 shares in the last quarter. Wellington Management Group LLP purchased a new stake in nCino in the 3rd quarter worth about $36,962,000. Marshall Wace LLP lifted its stake in nCino by 687.3% in the 3rd quarter. Marshall Wace LLP now owns 1,171,749 shares of the company’s stock worth $31,766,000 after acquiring an additional 1,022,911 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in nCino during the 2nd quarter worth about $26,238,000. Finally, Conestoga Capital Advisors LLC boosted its position in 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. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other nCino news, insider April Rieger sold 9,693 shares of the business’s 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 completion of the sale, the insider owned 383,601 shares of the company’s stock, valued at $6,912,490.02. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 22,073 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $397,755.46. Following the sale, the chief executive officer owned 1,271,016 shares of the company’s stock, valued at approximately $22,903,708.32. This trade represents a 1.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 164,918 shares of company stock valued at $2,900,939. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price on nCino from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Stephens lowered their price objective 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. Robert W. Baird dropped their price objective on shares of nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, Morgan Stanley decreased their target price on shares of nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and an average price target of $26.07.

nCino Price Performance

NASDAQ NCNO opened at $15.33 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.67 billion, a PE ratio of 306.60 and a beta of 0.72. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The company has a 50 day moving average price of $16.63 and a two-hundred day moving average price of $20.88.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.21 by $0.16. nCino had a net margin of 0.87% and a return on equity of 4.75%. The company had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. During the same quarter in the prior year, the business posted $0.12 EPS. nCino’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts predict that nCino Inc. will post 0.52 earnings per share for the current fiscal year.

nCino Profile

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.