Vanguard Group Inc. Sells 67,230 Shares of nCino Inc. $NCNO

Vanguard Group Inc. decreased its holdings in nCino Inc. (NASDAQ:NCNO) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,857,473 shares of the company’s stock after selling 67,230 shares during the quarter. Vanguard Group Inc. owned about 0.10% of nCino worth $304,026,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ranger Investment Management L.P. boosted its stake in shares of nCino by 48.2% in the third quarter. Ranger Investment Management L.P. now owns 1,157,751 shares of the company’s stock worth $31,387,000 after acquiring an additional 376,506 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of nCino in the third quarter worth about $1,397,000. Cramer Rosenthal Mcglynn LLC lifted its position in shares of nCino by 19.8% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 375,310 shares of the company’s stock worth $10,175,000 after buying an additional 62,142 shares in the last quarter. Shannon River Fund Management LLC lifted its position in shares of nCino by 27.4% in the third quarter. Shannon River Fund Management LLC now owns 1,578,896 shares of the company’s stock worth $42,804,000 after buying an additional 339,863 shares in the last quarter. Finally, Tremblant Capital Group lifted its position in shares of nCino by 40.3% in the third quarter. Tremblant Capital Group now owns 661,277 shares of the company’s stock worth $17,927,000 after buying an additional 189,815 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Transactions at nCino

In related news, insider April Rieger sold 9,693 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $174,667.86. Following the transaction, the insider owned 383,601 shares of the company’s stock, valued at $6,912,490.02. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $642,413.00. Following the completion of the transaction, the director directly owned 1,108,473 shares in the company, valued at approximately $19,974,683.46. This trade represents a 3.12% decrease in their position. 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 sold 164,918 shares of company stock worth $2,900,939 in the last ninety days. 5.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their target price on nCino from $36.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, March 30th. The Goldman Sachs Group decreased their price objective on nCino from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Stephens decreased their price objective on nCino from $34.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Truist Financial decreased their price objective on nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on nCino from $36.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.07.

nCino Trading Up 1.9%

Shares of NASDAQ NCNO opened at $17.78 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average price is $16.60 and its 200-day moving average price is $21.13. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 355.60 and a beta of 0.72.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.16. nCino had a return on equity of 4.75% and a net margin of 0.87%.The firm had revenue of $149.67 million for the quarter, compared to the consensus estimate of $147.41 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts expect that nCino Inc. will post 0.52 earnings per share for the current year.

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.