Susquehanna Fundamental Investments LLC Has $1.33 Million Holdings in nCino, Inc. (NASDAQ:NCNO)

Susquehanna Fundamental Investments LLC grew its position in shares of nCino, Inc. (NASDAQ:NCNO) by 345.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,300 shares of the company’s stock after purchasing an additional 32,800 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in nCino were worth $1,330,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital International Investors acquired a new stake in shares of nCino in the 1st quarter valued at about $60,703,000. Long Path Partners LP boosted its holdings in nCino by 151.1% during the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after purchasing an additional 1,558,529 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in nCino in the 2nd quarter worth about $41,805,000. ShawSpring Partners LLC purchased a new position in nCino in the second quarter worth $38,663,000. Finally, Millennium Management LLC increased its holdings in nCino by 438.3% during the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after buying an additional 1,182,452 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NCNO. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Needham & Company LLC cut their price target on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. Macquarie reiterated an “outperform” rating and set a $40.00 target price on shares of nCino in a report on Wednesday, August 28th. Finally, Truist Financial reissued a “buy” rating and issued a $37.00 price target on shares of nCino in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, nCino currently has an average rating of “Moderate Buy” and an average price target of $38.18.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $31.11 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $3.58 billion, a P/E ratio of -100.35, a P/E/G ratio of 23.49 and a beta of 0.58. The firm’s fifty day moving average is $31.55 and its two-hundred day moving average is $31.50. nCino, Inc. has a 52-week low of $27.13 and a 52-week high of $37.48.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the previous year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, analysts anticipate that nCino, Inc. will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling at nCino

In other news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $31.08, for a total value of $61,585,455.12. Following the completion of the sale, the director now owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider April Rieger sold 8,856 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $31.23, for a total value of $276,572.88. Following the sale, the insider now owns 165,791 shares in the company, valued at $5,177,652.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Insight Holdings Group, Llc sold 1,981,514 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $31.08, for a total transaction of $61,585,455.12. Following the completion of the sale, the director now owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The disclosure for this sale can be found here. Insiders sold a total of 4,271,826 shares of company stock valued at $137,563,353 in the last three months. Company insiders own 28.40% of the company’s stock.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.