nCino (NASDAQ:NCNO) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of nCino (NASDAQ:NCNO) from a buy rating to a hold rating in a report published on Saturday.

Several other equities analysts have also issued reports on the company. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of nCino in a research report on Thursday, May 28th. The Goldman Sachs Group dropped their price objective on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. JPMorgan Chase & Co. upped their target price on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. Finally, Citizens Jmp reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

nCino Stock Down 1.0%

NASDAQ:NCNO opened at $18.97 on Friday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 158.08 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s fifty day moving average price is $16.80 and its two-hundred day moving average price is $17.01. nCino has a 52-week low of $13.80 and a 52-week high of $33.92.

Insider Buying and Selling at nCino

In related news, CEO Sean Desmond sold 11,815 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $230,746.95. Following the completion of the sale, the chief executive officer owned 1,231,080 shares in the company, valued at approximately $24,042,992.40. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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, CFO Gregory Orenstein sold 11,780 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $226,411.60. Following the completion of the transaction, the chief financial officer directly owned 690,513 shares in the company, valued at $13,271,659.86. The trade was a 1.68% decrease in their position. 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 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in nCino in the second quarter valued at approximately $147,492,000. Senvest Management LLC boosted its position in shares of nCino by 30.2% during the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after purchasing an additional 1,230,192 shares in the last quarter. Hawk Ridge Capital Management LP grew its holdings in shares of nCino by 625.4% in 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 buying an additional 3,864,010 shares during the period. Spyglass Capital Management LLC grew its holdings in shares of nCino by 6.0% in the 1st quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock valued at $46,217,000 after buying an additional 175,357 shares during the period. Finally, Conestoga Capital Advisors LLC increased its position in shares of nCino by 25.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company’s stock valued at $73,357,000 after buying an additional 585,786 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

About nCino

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.