American Capital Management Inc. Buys 347,587 Shares of nCino Inc. $NCNO

Key Points

• American Capital Management increased its nCino stake by 17.1%, purchasing 347,587 additional shares to own 2.38 million shares, worth approximately $35.6 million. Institutional investors and hedge funds collectively own 94.76% of nCino.
• nCino shares rose 6.6% to $17.65, though the stock remains well below its 52-week high of $33.92. The company has a market capitalization of about $1.93 billion and a high price-to-earnings ratio of 147.08.
• Analysts maintain a generally positive outlook, with nCino receiving a consensus “Moderate Buy” rating and an average price target of $25.29. Recent insider sales were disclosed as largely related to tax withholding and pre-arranged trading plans.

American Capital Management Inc. lifted its stake in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 17.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,375,396 shares of the company's stock after acquiring an additional 347,587 shares during the quarter. nCino makes up 1.9% of American Capital Management Inc.'s holdings, making the stock its 24th biggest holding. American Capital Management Inc. owned about 2.18% of nCino worth $35,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NCNO. Hawk Ridge Capital Management LP lifted its stake 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 valued at $67,138,000 after buying an additional 3,864,010 shares during the period. Bank of America Corp DE boosted its holdings in shares of nCino by 475.1% during the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company's stock worth $68,146,000 after buying an additional 2,076,579 shares in the last quarter. Millennium Management LLC grew its position in shares of nCino by 262.8% during the 4th quarter. Millennium Management LLC now owns 2,341,532 shares of the company's stock worth $60,037,000 after buying an additional 1,696,051 shares during the period. Senvest Management LLC increased its stake in shares of nCino by 68.6% in the 4th quarter. Senvest Management LLC now owns 4,078,276 shares of the company's stock valued at $104,567,000 after acquiring an additional 1,658,868 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of nCino during the 3rd quarter valued at $36,962,000. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Trading Up 6.6%

Shares of NCNO stock opened at $17.65 on Tuesday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 147.08 and a beta of 0.68. The company's fifty day simple moving average is $16.18 and its two-hundred day simple moving average is $17.42. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $33.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price on nCino from $24.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Citigroup restated a "market outperform" rating on shares of nCino in a research note on Monday, June 22nd. 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. Wall Street Zen raised shares of nCino from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Finally, Zacks Research upgraded shares of nCino from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, nCino has a consensus rating of "Moderate Buy" and an average target price of $25.29.

Insider Transactions at nCino

In related news, Director Pierre Naude sold 35,650 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the completion of the transaction, the director directly owned 1,108,473 shares in the company, valued at approximately $19,974,683.46. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 3,695 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total value of $66,657.80. Following the transaction, the senior vice president owned 50,876 shares in the company, valued at $917,803.04. This trade represents a 6.77% 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. In the last quarter, insiders have sold 119,964 shares of company stock valued at $2,143,529. Corporate insiders own 1.90% 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.

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