Jupiter Topco LLC Buys New Holdings in nCino Inc. $NCNO

Jupiter Topco LLC purchased a new position in nCino Inc. (NASDAQ:NCNO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 349,577 shares of the company’s stock, valued at approximately $5,716,000. Jupiter Topco LLC owned approximately 0.32% of nCino as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of 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. Optiver Holding B.V. acquired a new position in shares of nCino during the first quarter worth approximately $32,000. Los Angeles Capital Management LLC bought a new position in shares of nCino in the 4th quarter worth $38,000. Versant Capital Management Inc lifted its holdings in shares of nCino by 664.9% in the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after purchasing an additional 2,101 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in nCino by 76.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $22.60 on Tuesday. The company has a market capitalization of $2.39 billion, a P/E ratio of 75.33 and a beta of 0.66. The company’s 50-day moving average is $18.51 and its 200 day moving average is $16.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $32.53.

Insider Transactions at nCino

In other news, SVP Jeanette Sellers sold 1,536 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total transaction of $29,998.08. Following the completion of the sale, the senior vice president owned 48,453 shares in the company, valued at $946,287.09. This trade represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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, CFO Gregory Orenstein sold 11,780 shares of nCino stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $226,411.60. Following the completion of the sale, the chief financial officer directly owned 690,513 shares in the company, valued at $13,271,659.86. This trade represents a 1.68% decrease in their position. 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. Over the last quarter, insiders sold 84,040 shares of company stock valued at $1,583,807. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NCNO. BTIG Research restated a “neutral” rating on shares of nCino in a research note on Wednesday, August 26th. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Citigroup reissued a “market outperform” rating on shares of nCino in a report on Wednesday, August 26th. Citizens Jmp increased their price objective on nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 26th. Finally, UBS Group restated a “buy” rating on shares of nCino in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.38.

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.