Y Intercept Hong Kong Ltd Buys Shares of 61,093 nCino Inc. $NCNO

Y Intercept Hong Kong Ltd purchased a new position in shares of nCino Inc. (NASDAQ:NCNO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 61,093 shares of the company’s stock, valued at approximately $915,000. Y Intercept Hong Kong Ltd owned 0.05% of nCino at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Millennium Management LLC increased its position in nCino by 16.6% in the first quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock worth $8,347,000 after buying an additional 43,247 shares during the period. Woodline Partners LP grew its position in shares of nCino by 105.3% during the first quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock worth $363,000 after acquiring an additional 6,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of nCino by 16.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock worth $7,731,000 after acquiring an additional 39,345 shares during the period. Prudential Financial Inc. bought a new stake in nCino in the 2nd quarter valued at about $208,000. Finally, Marshall Wace LLP bought a new stake in nCino in the 2nd quarter valued at about $4,163,000. Institutional investors own 94.76% of the company’s stock.

Insider Transactions at nCino

In other news, CEO Sean Desmond sold 22,073 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $397,755.46. Following the completion of the sale, the chief executive officer owned 1,271,016 shares in the company, valued at approximately $22,903,708.32. This represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 3,695 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $18.04, for a total value of $66,657.80. Following the sale, the senior vice president directly owned 50,876 shares of the company’s stock, valued at approximately $917,803.04. This represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 121,837 shares of company stock valued at $2,176,400 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Zacks Research raised nCino from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Morgan Stanley decreased their price target on nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of nCino in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.29.

nCino Price Performance

NASDAQ NCNO opened at $16.99 on Monday. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The company has a market capitalization of $1.86 billion, a P/E ratio of 141.58 and a beta of 0.68. The company’s 50 day simple moving average is $15.98 and its 200 day simple moving average is $18.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.

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.