nCino Inc. $NCNO Shares Acquired by Algebris UK Ltd.

Algebris UK Ltd. lifted its position in shares of nCino Inc. (NASDAQ:NCNO) by 266.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,032,782 shares of the company’s stock after buying an additional 750,744 shares during the quarter. nCino makes up about 1.3% of Algebris UK Ltd.’s holdings, making the stock its 20th largest position. Algebris UK Ltd.’s holdings in nCino were worth $26,493,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nicholas Company Inc. raised its stake in shares of nCino by 9.6% during the 4th quarter. Nicholas Company Inc. now owns 279,118 shares of the company’s stock worth $7,157,000 after buying an additional 24,335 shares during the last quarter. NewEdge Wealth LLC acquired a new position in shares of nCino during the 4th quarter worth $1,651,000. Diversify Wealth Management LLC raised its stake in shares of nCino by 66.5% during the 4th quarter. Diversify Wealth Management LLC now owns 18,480 shares of the company’s stock worth $464,000 after buying an additional 7,380 shares during the last quarter. Truist Financial Corp raised its stake in shares of nCino by 25.5% during the 4th quarter. Truist Financial Corp now owns 22,706 shares of the company’s stock worth $582,000 after buying an additional 4,612 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in shares of 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 buying an additional 585,786 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Trading Up 2.8%

NASDAQ NCNO opened at $15.47 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.00 and a quick ratio of 1.00. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The company has a market cap of $1.68 billion, a P/E ratio of 309.40 and a beta of 0.72. The company has a 50-day moving average of $16.47 and a 200-day moving average of $20.47.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. nCino had a return on equity of 4.75% and a net margin of 0.87%.The business had revenue of $149.67 million during the quarter, compared to analysts’ expectations of $147.41 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company’s revenue for the quarter 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 year.

Insider Buying and Selling at nCino

In other news, CEO Sean Desmond sold 16,589 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $18.04, for a total transaction of $299,265.56. Following the completion of the sale, the chief executive officer owned 1,262,492 shares in the company, valued at approximately $22,775,355.68. The trade was a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 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 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. In the last ninety days, insiders have sold 164,918 shares of company stock worth $2,900,939. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NCNO. Robert W. Baird cut their price target on nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Truist Financial cut their price target on nCino from $27.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of nCino in a research note on Thursday, January 22nd. Morgan Stanley cut 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. Finally, Needham & Company LLC cut their target price on shares of nCino from $38.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.21.

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.