4,990,713 Shares in nCino Inc. $NCNO Bought by HMI Capital Management L.P.

HMI Capital Management L.P. bought a new stake in nCino Inc. (NASDAQ:NCNO) during the 2nd quarter, HoldingsChannel reports. The firm bought 4,990,713 shares of the company’s stock, valued at approximately $81,598,000. nCino makes up 11.5% of HMI Capital Management L.P.’s investment portfolio, making the stock its 4th largest position.

A number of other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in nCino during the 2nd quarter worth about $147,492,000. Senvest Management LLC lifted its stake in shares of nCino by 30.2% in the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after purchasing an additional 1,230,192 shares during the period. Hawk Ridge Capital Management LP boosted its position in shares of 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 purchasing an additional 3,864,010 shares in the last quarter. Spyglass Capital Management LLC boosted its position in shares of nCino by 6.0% during the 1st 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 in the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in nCino by 25.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company’s stock worth $73,357,000 after purchasing an additional 585,786 shares during the period. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Zacks Research downgraded shares of nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. Citizens Jmp cut their target price on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Monday, May 18th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of nCino in a report on Wednesday, June 24th. 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 given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.50.

Insider Activity at nCino

In other nCino news, CEO Sean Desmond sold 11,815 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total transaction of $230,746.95. Following the completion of the sale, the chief executive officer directly owned 1,231,080 shares of the company’s stock, valued at approximately $24,042,992.40. The trade was a 0.95% decrease in their position. The sale 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, insider April Rieger sold 7,852 shares of the stock in a transaction that occurred 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 approximately $7,221,895.78. This trade represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 83,350 shares of company stock valued at $1,568,144 over the last quarter. 1.90% of the stock is currently owned by company insiders.

nCino Stock Performance

NASDAQ NCNO opened at $20.95 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $17.78 and a 200 day simple moving average of $16.85. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The company has a market cap of $2.30 billion, a P/E ratio of 174.58 and a beta of 0.66.

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.