State of Wyoming Makes New $575,000 Investment in nCino Inc. $NCNO

State of Wyoming bought a new stake in nCino Inc. (NASDAQ:NCNO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,191 shares of the company’s stock, valued at approximately $575,000.

Several other hedge funds also recently modified their holdings of NCNO. Hawk Ridge Capital Management LP lifted its stake in nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after acquiring an additional 3,864,010 shares in the last quarter. Algebris UK Ltd. grew its stake 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 worth $26,493,000 after acquiring an additional 750,744 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of nCino in the 4th quarter worth $3,982,000. American Capital Management Inc. raised its holdings in shares of nCino by 17.1% in the first quarter. American Capital Management Inc. now owns 2,375,396 shares of the company’s stock valued at $35,583,000 after purchasing an additional 347,587 shares during the last quarter. Finally, Spyglass Capital Management LLC raised its holdings in shares of nCino by 6.0% in the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock valued at $46,217,000 after purchasing an additional 175,357 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at nCino

In other nCino news, insider April Rieger sold 7,852 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $150,915.44. Following the completion of the sale, the insider directly owned 375,749 shares of the company’s stock, valued at $7,221,895.78. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value 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. The trade was a 0.42% decrease in their ownership of the stock. 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 sold 83,350 shares of company stock valued at $1,568,144 in the last quarter. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of nCino in a research report on Thursday, May 28th. Weiss Ratings raised nCino from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. The Goldman Sachs Group decreased their price target on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. JPMorgan Chase & Co. lifted their price target on nCino from $16.00 to $17.00 and gave the stock a “neutral” rating 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 research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.29.

nCino Stock Performance

Shares of NCNO stock opened at $20.81 on Monday. 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 firm has a market cap of $2.28 billion, a P/E ratio of 173.42 and a beta of 0.66. The company has a 50 day moving average of $17.13 and a 200-day moving average of $16.90. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92.

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.