Untitled Investments LP Increases Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Untitled Investments LP raised its holdings in nCino, Inc. (NASDAQ:NCNO) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 891,248 shares of the company’s stock after purchasing an additional 26,260 shares during the period. nCino makes up about 6.3% of Untitled Investments LP’s portfolio, making the stock its 6th largest holding. Untitled Investments LP owned approximately 0.78% of nCino worth $33,315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in nCino by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after acquiring an additional 148,390 shares in the last quarter. Wasatch Advisors LP raised its position in nCino by 18.9% during the fourth quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock valued at $75,777,000 after purchasing an additional 358,766 shares in the last quarter. Meritage Group LP raised its stake in shares of nCino by 2.3% during the first quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock worth $65,451,000 after acquiring an additional 39,828 shares in the last quarter. Capital International Investors purchased a new position in nCino in the 1st quarter worth approximately $60,703,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of nCino by 14.7% during the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock worth $45,985,000 after purchasing an additional 157,470 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NCNO. Keefe, Bruyette & Woods assumed coverage on shares of nCino in a report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of nCino in a report on Thursday, May 30th. Piper Sandler restated an “overweight” rating and issued a $38.00 target price on shares of nCino in a report on Monday, July 1st. Robert W. Baird dropped their price objective on nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of nCino in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.64.

Insider Buying and Selling

In other nCino news, insider Sean Desmond sold 5,988 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $180,538.20. Following the sale, the insider now directly owns 370,790 shares in the company, valued at $11,179,318.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the firm’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 directly owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Desmond sold 5,988 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $180,538.20. Following the completion of the sale, the insider now directly owns 370,790 shares of the company’s stock, valued at $11,179,318.50. The disclosure for this sale can be found here. Insiders sold a total of 5,844,023 shares of company stock valued at $185,759,471 over the last ninety days. Insiders own 28.40% of the company’s stock.

nCino Stock Down 1.9 %

Shares of nCino stock traded down $0.62 during midday trading on Thursday, reaching $32.14. 948,409 shares of the company’s stock traded hands, compared to its average volume of 998,495. The company’s 50 day simple moving average is $31.43 and its 200 day simple moving average is $31.35. nCino, Inc. has a 52 week low of $27.13 and a 52 week high of $37.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -103.67, a price-to-earnings-growth ratio of 17.93 and a beta of 0.59.

nCino (NASDAQ:NCNO) last released its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share for the quarter. The business had revenue of $128.09 million for the quarter, compared to the consensus estimate of $126.59 million. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. Equities analysts expect that nCino, Inc. will post 0.08 earnings per share for the current fiscal year.

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.