Susquehanna Fundamental Investments LLC Sells 254,545 Shares of nCino Inc. $NCNO

Susquehanna Fundamental Investments LLC cut its position in nCino Inc. (NASDAQ:NCNO) by 90.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,782 shares of the company’s stock after selling 254,545 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in nCino were worth $438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hawk Ridge Capital Management LP raised its stake in nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after buying an additional 3,864,010 shares during the period. American Capital Management Inc. acquired a new stake in shares of nCino during the second quarter worth about $83,508,000. Algebris UK Ltd. lifted its holdings in shares of nCino by 266.2% during the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock valued at $26,493,000 after purchasing an additional 750,744 shares in the last quarter. Spyglass Capital Management LLC grew its position in shares of nCino by 6.0% in the 1st quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock valued at $46,217,000 after purchasing an additional 175,357 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in nCino during the 4th quarter worth approximately $3,982,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In related news, CEO Sean Desmond sold 11,815 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total value of $230,746.95. Following the transaction, the chief executive officer owned 1,231,080 shares in the company, valued at approximately $24,042,992.40. This represents a 0.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $226,411.60. Following the completion of the transaction, the chief financial officer directly owned 690,513 shares in the company, valued at approximately $13,271,659.86. This represents a 1.68% decrease in their ownership of the stock. 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. Insiders have sold a total of 75,976 shares of company stock worth $1,452,687 in the last ninety days. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NCNO shares. Barclays upped their price target on shares of nCino from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of nCino in a research report on Wednesday, August 26th. UBS Group restated a “buy” rating on shares of nCino in a report on Wednesday, August 26th. Finally, The Goldman Sachs Group reduced their price target on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. One investment 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 company. According to data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and an average target price of $24.38.

nCino Trading Up 3.0%

Shares of nCino stock opened at $22.96 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day simple moving average of $18.83 and a two-hundred day simple moving average of $17.07. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $31.92. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 76.53 and a beta of 0.69.

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.