Picton Mahoney Asset Management Buys Shares of 403,006 nCino Inc. $NCNO

Picton Mahoney Asset Management purchased a new position in shares of nCino Inc. (NASDAQ:NCNO) in the 3rd quarter, Holdings Channel reports. The firm purchased 403,006 shares of the company’s stock, valued at approximately $10,925,000.

A number of other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of nCino by 186.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after acquiring an additional 617 shares in the last quarter. Advisors Asset Management Inc. raised its position in nCino by 68.5% in the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after purchasing an additional 458 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock valued at $37,000 after purchasing an additional 1,356 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of nCino by 105.3% during the third quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock valued at $52,000 after purchasing an additional 982 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of nCino during the third quarter worth about $91,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on NCNO shares. Zacks Research downgraded shares of nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nCino in a research report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their price target on nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods increased their price target on nCino from $34.50 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Finally, BTIG Research began coverage on nCino in a research note on Tuesday, December 16th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, nCino currently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Insider Buying and Selling at nCino

In related news, CEO Sean Desmond sold 16,047 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total value of $299,757.96. Following the completion of the transaction, the chief executive officer directly owned 602,550 shares in the company, valued at $11,255,634. This trade represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeanette Sellers sold 2,182 shares of nCino stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $18.26, for a total transaction of $39,843.32. Following the transaction, the senior vice president directly owned 43,219 shares of the company’s stock, valued at approximately $789,178.94. This trade represents a 4.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 78,641 shares of company stock valued at $1,559,400. Company insiders own 5.70% of the company’s stock.

nCino Trading Down 2.8%

NASDAQ NCNO opened at $16.36 on Thursday. The stock has a market capitalization of $1.88 billion, a P/E ratio of -90.89, a P/E/G ratio of 3.32 and a beta of 0.59. The business has a 50 day simple moving average of $21.02 and a 200 day simple moving average of $24.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. nCino Inc. has a one year low of $13.80 and a one year high of $33.92.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.11. The firm had revenue of $152.16 million for the quarter, compared to analyst estimates of $147.31 million. nCino had a positive return on equity of 2.28% and a negative net margin of 3.71%.The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. Research analysts expect that nCino Inc. will post 0.12 earnings per share for the current year.

nCino declared that its board has initiated a stock buyback plan on Monday, December 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 3.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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.