9,020,898 Shares in nCino Inc. $NCNO Acquired by BlackRock Inc.

BlackRock Inc. acquired a new position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,020,898 shares of the company's stock, valued at approximately $147,492,000. BlackRock Inc. owned approximately 8.23% of nCino at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NCNO. CWM LLC boosted its stake in nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company's stock worth $29,000 after buying an additional 821 shares in the last quarter. Optiver Holding B.V. purchased a new stake in nCino during the 1st quarter valued at about $32,000. Los Angeles Capital Management LLC bought a new position in nCino during the 4th quarter worth approximately $38,000. Versant Capital Management Inc increased its stake in 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 during the period. Finally, Farther Finance Advisors LLC lifted its position in nCino by 76.2% in the fourth 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 last quarter. 94.76% of the stock is currently owned by institutional investors.

Insider Activity

In other nCino news, CFO Gregory Orenstein sold 11,780 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $226,411.60. Following the completion of the sale, the chief financial officer owned 690,513 shares in the company, valued at $13,271,659.86. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 the firm'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 $29,998.08. Following the completion of the transaction, the senior vice president directly owned 48,453 shares in the company, valued at $946,287.09. This trade represents a 3.07% decrease in their position. 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. Over the last ninety days, insiders have sold 83,350 shares of company stock worth $1,568,144. Company insiders own 1.90% of the company's stock.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $22.99 on Friday. The business has a 50-day simple moving average of $18.35 and a two-hundred day simple moving average of $16.97. nCino Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $32.53. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 76.63 and a beta of 0.66. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.85.

Wall Street Analyst Weigh In

Several brokerages recently commented on NCNO. Piper Sandler started coverage on shares of nCino in a research note on Monday. They issued an "overweight" rating and a $25.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of nCino from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday. The Goldman Sachs Group reduced their price target on nCino from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, May 14th. UBS Group reiterated a "buy" rating on shares of nCino in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of nCino from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.

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