nCino Inc. $NCNO Shares Newly Purchased by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in nCino Inc. (NASDAQ:NCNO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 55,221 shares of the company’s stock, valued at approximately $1,001,000. CenterBook Partners LP owned 0.05% of nCino at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. IFP Advisors Inc boosted its position in shares of nCino by 7,370.4% in the second quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,990 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of nCino in the 1st quarter valued at $32,000. Versant Capital Management Inc boosted its holdings in shares of nCino by 664.9% in the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after purchasing an additional 2,101 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of nCino by 5,250.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock valued at $50,000 after purchasing an additional 3,255 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of nCino by 605.7% during the 3rd quarter. Sterling Capital Management LLC now owns 3,458 shares of the company’s stock valued at $63,000 after buying an additional 2,968 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Down 2.0%

Shares of nCino stock opened at $22.47 on Wednesday. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $27.50. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 74.90 and a beta of 0.77. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $21.22 and a 200 day moving average price of $18.31.

Insider Buying and Selling

In other news, insider April Rieger sold 8,008 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total value of $182,021.84. Following the completion of the sale, the insider owned 361,643 shares of the company’s stock, valued at $8,220,145.39. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 43,992 shares of the stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $19.90, for a total value of $875,440.80. Following the completion of the sale, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at approximately $24,498,492. This trade represents a 3.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 133,610 shares of company stock worth $2,883,725. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NCNO. BTIG Research reiterated a “neutral” rating on shares of nCino in a report on Wednesday, August 26th. Citigroup restated a “market outperform” rating on shares of nCino in a research note on Wednesday, August 26th. Stephens started coverage on nCino in a research note on Friday, October 16th. They set an “overweight” rating and a $26.00 price target for the company. Morgan Stanley raised their price objective on nCino from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research note on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.42.

nCino Company Profile

nCino, Inc. is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its nCino Bank Operating System supports digital banking operations, helping institutions manage processes and customer relationships through a connected platform. The company’s products and services include commercial, small-business and consumer lending tools, digital account opening, deposit account management, mortgage technology and solutions for managing customer relationships and loan workflows.