Hsbc Holdings PLC Acquires New Stake in nCino Inc. $NCNO

Hsbc Holdings PLC bought a new position in shares of nCino Inc. (NASDAQ:NCNO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 154,173 shares of the company’s stock, valued at approximately $3,982,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NCNO. Vanguard Group Inc. increased its stake in nCino by 1.7% during 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 during the period. Cramer Rosenthal Mcglynn LLC lifted its position in shares of nCino by 19.8% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 375,310 shares of the company’s stock worth $10,175,000 after purchasing an additional 62,142 shares in the last quarter. Algebris UK Ltd. boosted its stake in shares of nCino by 266.2% in the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock valued at $26,493,000 after purchasing an additional 750,744 shares during the period. Shannon River Fund Management LLC boosted its stake in shares of nCino by 27.4% in the third quarter. Shannon River Fund Management LLC now owns 1,578,896 shares of the company’s stock valued at $42,804,000 after purchasing an additional 339,863 shares during the period. Finally, Tremblant Capital Group boosted its stake in shares of nCino by 40.3% in the third quarter. Tremblant Capital Group now owns 661,277 shares of the company’s stock valued at $17,927,000 after purchasing an additional 189,815 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Stock Up 8.9%

NCNO stock opened at $15.63 on Friday. The company’s 50 day moving average price is $16.11 and its 200 day moving average price is $18.67. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 130.25 and a beta of 0.69. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $147.41 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities research analysts anticipate that nCino Inc. will post 0.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NCNO. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of nCino in a research note on Thursday, May 28th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of nCino in a research report on Wednesday. Citizens Jmp dropped their price target on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a research note on Monday, May 18th. Piper Sandler raised nCino from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $30.00 to $22.00 in a research report on Wednesday, April 1st. Finally, The Goldman Sachs Group reduced their price objective on nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.29.

Insiders Place Their Bets

In other nCino news, Director Pierre Naude sold 35,650 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 $642,413.00. Following the sale, the director directly owned 1,108,473 shares in the company, valued at $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 $20,528,119.92. This trade represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 172,982 shares of company stock worth $3,032,059. 1.90% of the stock is currently owned by insiders.

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.