nCino Inc. $NCNO is Owls Nest Partners IA LLC’s 6th Largest Position

Owls Nest Partners IA LLC grew its stake in nCino Inc. (NASDAQ:NCNO) by 18.9% during the fourth quarter, HoldingsChannel reports. The fund owned 1,585,623 shares of the company’s stock after acquiring an additional 252,584 shares during the quarter. nCino comprises about 11.3% of Owls Nest Partners IA LLC’s holdings, making the stock its 6th largest position. Owls Nest Partners IA LLC’s holdings in nCino were worth $40,655,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NCNO. Vanguard Group Inc. raised its holdings in nCino by 1.7% in the third quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock worth $323,279,000 after purchasing an additional 201,499 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of nCino by 19.8% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 375,310 shares of the company’s stock valued at $10,175,000 after buying an additional 62,142 shares in the last quarter. Algebris UK Ltd. boosted its holdings in shares of nCino by 266.2% in the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock valued at $26,493,000 after buying an additional 750,744 shares in the last quarter. Shannon River Fund Management LLC grew its position in shares of nCino by 27.4% in the 3rd 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 during the last quarter. Finally, Tremblant Capital Group grew its position in shares of nCino by 40.3% in the 3rd 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 during the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Stock Performance

Shares of nCino stock opened at $15.32 on Monday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 127.67 and a beta of 0.69. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $16.64 and a 200 day moving average price of $19.31. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $33.92.

nCino (NASDAQ:NCNO) last released its 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 net margin of 2.17% and a return on equity of 6.85%. The company had revenue of $149.67 million for the quarter, compared to the consensus estimate of $147.41 million. During the same quarter in the previous year, the firm earned $0.12 EPS. nCino’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts expect that nCino Inc. will post 0.68 EPS for the current year.

Insider Buying and Selling at nCino

In related news, insider April Rieger sold 9,693 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 383,601 shares in the company, valued at $6,912,490.02. This trade represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 8,064 shares of nCino stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $16.26, for a total value of $131,120.64. Following the sale, the chief executive officer directly owned 1,262,492 shares of the company’s stock, valued at approximately $20,528,119.92. This represents a 0.63% 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 sold 172,982 shares of company stock valued at $3,032,059. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NCNO shares. Barclays increased their target price on shares of nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Citizens Jmp reduced their price target on nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, May 18th. 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. Finally, Zacks Research raised nCino from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.21.

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.