Sigma Planning Corp Purchases Shares of 72,500 nCino Inc. $NCNO

Sigma Planning Corp acquired a new position in nCino Inc. (NASDAQ:NCNO) during the second quarter, Holdings Channel reports. The firm acquired 72,500 shares of the company’s stock, valued at approximately $1,185,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of nCino in the second quarter worth approximately $147,492,000. Bank of America Corp DE purchased a new stake in shares of nCino during the 2nd quarter valued at $84,319,000. American Capital Management Inc. bought a new stake in shares of nCino during the 2nd quarter worth $83,508,000. HMI Capital Management L.P. bought a new stake in shares of nCino during the 2nd quarter worth $81,598,000. Finally, Hawk Ridge Capital Management LP grew its position in nCino by 625.4% in the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after acquiring an additional 3,864,010 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sean Desmond sold 11,815 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total transaction of $230,746.95. Following the transaction, the chief executive officer owned 1,231,080 shares in the company, valued at $24,042,992.40. The trade was a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, SVP Jeanette Sellers sold 1,536 shares of nCino stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $29,998.08. Following the completion of the sale, the senior vice president owned 48,453 shares in the company, valued at approximately $946,287.09. This represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 75,976 shares of company stock valued at $1,452,687 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the subject of several research analyst reports. The Goldman Sachs Group dropped their price target on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. UBS Group reissued a “buy” rating on shares of nCino in a report on Wednesday, August 26th. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Finally, Piper Sandler assumed coverage on shares of nCino in a research note on Monday, August 24th. They issued an “overweight” rating and a $25.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.38.

nCino Trading Down 1.3%

NASDAQ:NCNO opened at $22.30 on Wednesday. The firm has a market capitalization of $2.36 billion, a P/E ratio of 74.33 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $18.67 and a 200 day moving average of $17.02. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $31.92.

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.