Ararat Capital Management LP Buys 88,752 Shares of nCino Inc. $NCNO

Ararat Capital Management LP increased its stake in shares of nCino Inc. (NASDAQ:NCNO) by 32.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 361,292 shares of the company’s stock after purchasing an additional 88,752 shares during the period. nCino makes up approximately 5.3% of Ararat Capital Management LP’s investment portfolio, making the stock its 10th largest position. Ararat Capital Management LP’s holdings in nCino were worth $9,795,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its position in nCino by 4.3% in the third quarter. Alliancebernstein L.P. now owns 40,872 shares of the company’s stock valued at $1,108,000 after purchasing an additional 1,682 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in shares of nCino during the third quarter worth $3,721,000. Ashford Capital Management Inc. boosted its position in shares of nCino by 12.0% during the third quarter. Ashford Capital Management Inc. now owns 413,257 shares of the company’s stock worth $11,203,000 after buying an additional 44,117 shares during the period. SummitTX Capital L.P. grew its stake in shares of nCino by 210.2% in the third quarter. SummitTX Capital L.P. now owns 34,208 shares of the company’s stock valued at $927,000 after buying an additional 23,179 shares in the last quarter. Finally, American Capital Management Inc. raised its holdings in shares of nCino by 4.3% in the 3rd quarter. American Capital Management Inc. now owns 2,040,303 shares of the company’s stock valued at $55,313,000 after buying an additional 84,447 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity

In other nCino news, Director Pierre Naude sold 24,273 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total transaction of $453,419.64. Following the sale, the director owned 1,166,823 shares in the company, valued at $21,796,253.64. This represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeanette Sellers sold 2,182 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $18.26, for a total value of $39,843.32. Following the sale, the senior vice president owned 43,219 shares in the company, valued at approximately $789,178.94. This trade represents a 4.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,310 shares of company stock worth $1,382,650 over the last three months. Company insiders own 5.70% of the company’s stock.

nCino Stock Down 1.0%

Shares of NASDAQ NCNO opened at $15.07 on Friday. The stock has a market cap of $1.73 billion, a P/E ratio of -83.72, a PEG ratio of 2.97 and a beta of 0.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.24. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The business’s fifty day simple moving average is $19.65 and its 200-day simple moving average is $24.21.

nCino announced that its Board of Directors has authorized a stock buyback plan on Monday, December 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on NCNO. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Truist Financial dropped their target price on nCino from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. Piper Sandler cut their price target on shares of nCino from $34.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, December 4th. Keefe, Bruyette & Woods increased their price target on shares of nCino from $34.50 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

nCino Company 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.