State of Wyoming Purchases 55,102 Shares of nCino Inc. $NCNO

State of Wyoming increased its position in nCino Inc. (NASDAQ:NCNO) by 62.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 142,752 shares of the company’s stock after buying an additional 55,102 shares during the period. nCino accounts for 0.3% of State of Wyoming’s portfolio, making the stock its 25th largest holding. State of Wyoming’s holdings in nCino were worth $2,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in nCino by 255.8% during the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in nCino in the fourth quarter worth approximately $38,000. Farther Finance Advisors LLC grew its position in 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 in the last quarter. Quarry LP increased its stake in shares of nCino by 138.2% during the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after purchasing an additional 987 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of nCino during the 3rd quarter worth $65,000. Institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 9,693 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $174,667.86. Following the completion of the transaction, the insider owned 383,601 shares of the company’s stock, valued at $6,912,490.02. The trade was a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $642,413.00. Following the sale, the director owned 1,108,473 shares of the company’s stock, valued at $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 119,964 shares of company stock worth $2,143,529 in the last ninety days. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

NCNO has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of nCino in a research note on Thursday, May 28th. Zacks Research raised shares of nCino from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. raised their target price on nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Barclays boosted their price target on nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, Robert W. Baird decreased their price target on nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.29.

nCino Trading Down 3.9%

NASDAQ:NCNO opened at $16.60 on Thursday. The company’s 50 day moving average is $16.06 and its 200-day moving average is $17.58. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 138.33 and a beta of 0.68.

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.