nCino Inc. $NCNO Shares Purchased by Royal Bank of Canada

Royal Bank of Canada boosted its position in nCino Inc. (NASDAQ:NCNO) by 35.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 183,715 shares of the company’s stock after purchasing an additional 48,255 shares during the period. Royal Bank of Canada’s holdings in nCino were worth $2,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its stake in nCino by 255.8% during the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of nCino in the fourth quarter worth $38,000. Farther Finance Advisors LLC increased its stake in shares of nCino by 76.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after acquiring an additional 722 shares during the period. Quarry LP lifted its position in nCino by 138.2% during the third quarter. Quarry LP now owns 1,701 shares of the company’s stock valued at $46,000 after purchasing an additional 987 shares during the period. Finally, Advisory Services Network LLC acquired a new position in nCino during the third quarter valued at $65,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In other nCino news, CEO Sean Desmond sold 11,815 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total transaction of $230,746.95. Following the transaction, the chief executive officer directly owned 1,231,080 shares of the company’s stock, valued at $24,042,992.40. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 4,677 shares of nCino stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $89,891.94. Following the completion of the sale, the director owned 1,116,707 shares in the company, valued at approximately $21,463,108.54. This trade represents a 0.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 83,350 shares of company stock worth $1,568,144 in the last 90 days. 1.90% of the stock is owned by insiders.

nCino Stock Performance

Shares of NCNO stock opened at $20.81 on Monday. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 173.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $17.13 and a 200-day simple moving average of $16.90.

Analysts Set New Price Targets

Several research firms have commented on NCNO. JPMorgan Chase & Co. upped their price target on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. The Goldman Sachs Group decreased their price objective on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of nCino in a research note on Wednesday, June 24th. Citigroup reaffirmed a “market outperform” rating on shares of nCino in a report on Monday, June 22nd. Finally, Wall Street Zen cut nCino from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, nCino has an average rating of “Moderate Buy” and an average price target of $25.29.

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.