349,577 Shares in nCino Inc. $NCNO Purchased by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in nCino Inc. (NASDAQ:NCNO) during the second quarter, Holdings Channel reports. The firm acquired 349,577 shares of the company’s stock, valued at approximately $5,716,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in nCino during the second quarter valued at about $147,492,000. Senvest Management LLC increased its stake in shares of nCino by 30.2% in the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after purchasing an additional 1,230,192 shares in the last quarter. HMI Capital Management L.P. bought a new stake in shares of nCino in the second quarter valued at approximately $81,598,000. Hawk Ridge Capital Management LP raised its position in shares of nCino by 625.4% in the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after purchasing an additional 3,864,010 shares during the period. Finally, Lead Edge Capital Management LLC bought a new stake in shares of nCino in the second quarter valued at approximately $59,883,020. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NCNO shares. Citigroup reaffirmed a “market outperform” rating on shares of nCino in a report on Wednesday, August 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Barclays increased their target price on nCino from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 26th. Morgan Stanley raised their price target on nCino from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Finally, Truist Financial boosted their price objective on nCino from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, nCino has an average rating of “Moderate Buy” and a consensus price target of $24.38.

nCino Price Performance

NCNO stock opened at $22.60 on Tuesday. The firm has a 50 day moving average of $18.51 and a 200-day moving average of $16.99. The firm has a market capitalization of $2.39 billion, a P/E ratio of 75.33 and a beta of 0.66. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $32.53. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34.

Insiders Place Their Bets

In other nCino news, SVP Jeanette Sellers sold 1,536 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total value of $29,998.08. Following the completion of the transaction, the senior vice president directly owned 48,453 shares of the company’s stock, valued at $946,287.09. This trade represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 11,780 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $226,411.60. Following the transaction, the chief financial officer owned 690,513 shares of the company’s stock, valued at $13,271,659.86. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 84,040 shares of company stock worth $1,583,807. Company insiders own 1.90% of the company’s stock.

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.