Handelsbanken Fonder AB acquired a new position in nCino, Inc. (NASDAQ:NCNO) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,100 shares of the company’s stock, valued at approximately $545,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its stake in shares of nCino by 213.4% in the 1st quarter. Treasurer of the State of North Carolina now owns 16,890 shares of the company’s stock worth $1,127,000 after buying an additional 11,500 shares in the last quarter. Islet Management LP raised its stake in shares of nCino by 260.0% in the 1st quarter. Islet Management LP now owns 450,000 shares of the company’s stock worth $30,024,000 after buying an additional 325,000 shares in the last quarter. Morgan Stanley raised its stake in shares of nCino by 142.1% in the 1st quarter. Morgan Stanley now owns 216,571 shares of the company’s stock worth $14,449,000 after buying an additional 127,134 shares in the last quarter. Hamilton Lane Advisors LLC bought a new stake in shares of nCino in the 1st quarter worth $4,439,000. Finally, Untitled Investments LP bought a new stake in shares of nCino in the 1st quarter worth $5,468,000. 81.99% of the stock is currently owned by institutional investors.
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In other nCino news, CFO David Rudow sold 6,184 shares of the company’s stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $62.28, for a total value of $385,139.52. Following the completion of the transaction, the chief financial officer now owns 52,485 shares of the company’s stock, valued at approximately $3,268,765.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William J. Ruh sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 17th. The shares were sold at an average price of $63.03, for a total value of $315,150.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $630,300. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,608 shares of company stock valued at $6,574,485. 35.40% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on NCNO. Wells Fargo & Company began coverage on nCino in a research report on Wednesday, June 9th. They set an “equal weight” rating and a $70.00 target price on the stock. G.Research raised nCino from a “hold” rating to a “buy” rating in a research report on Friday, May 14th. Zacks Investment Research raised nCino from a “sell” rating to a “hold” rating in a research report on Wednesday, August 4th. Piper Sandler boosted their target price on nCino from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays boosted their target price on nCino from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, nCino has an average rating of “Buy” and an average target price of $82.69.
Shares of NASDAQ NCNO opened at $74.63 on Monday. The business’s 50-day moving average price is $63.31 and its two-hundred day moving average price is $64.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.29. nCino, Inc. has a one year low of $48.00 and a one year high of $92.00. The company has a market capitalization of $7.18 billion and a P/E ratio of -135.69.
nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 31st. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. nCino had a negative return on equity of 9.82% and a negative net margin of 23.72%. The firm had revenue of $66.50 million for the quarter, compared to the consensus estimate of $63.72 million. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, equities analysts anticipate that nCino, Inc. will post -0.53 EPS for the current year.
nCino Company Profile
nCino, Inc, a software-as-a-service company, provides cloud-based software applications for financial institutions in the United States and internationally. Its nCino Bank Operating System, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable financial institutions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.
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