Ameriprise Financial Inc. Lowers Holdings in nCino Inc. $NCNO

Key Points

• Ameriprise Financial Inc. has reduced its holdings in nCino Inc. by 7.4% in the first quarter, now owning approximately 2.33% of the company, valued at $73.77 million.
• Various hedge funds have adjusted their positions in nCino, with notable increases in holdings from firms like Dimensional Fund Advisors and Tower Research Capital.
• As of the latest reports, nCino's stock has an average rating of "Moderate Buy" with a target price of $31.13, while the company's recent quarterly earnings surpassed analyst expectations.

Ameriprise Financial Inc. trimmed its position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,685,473 shares of the company's stock after selling 214,994 shares during the quarter. Ameriprise Financial Inc. owned approximately 2.33% of nCino worth $73,770,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Covestor Ltd increased its holdings in shares of nCino by 27.6% during the 1st quarter. Covestor Ltd now owns 2,388 shares of the company's stock valued at $66,000 after purchasing an additional 517 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in nCino by 22.5% in the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after purchasing an additional 538 shares during the period. Xponance Inc. raised its holdings in nCino by 7.9% in the 1st quarter. Xponance Inc. now owns 8,954 shares of the company's stock worth $246,000 after purchasing an additional 656 shares during the period. The Manufacturers Life Insurance Company raised its holdings in nCino by 3.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 24,656 shares of the company's stock worth $828,000 after purchasing an additional 772 shares during the period. Finally, Angeles Wealth Management LLC raised its holdings in nCino by 13.4% in the 1st quarter. Angeles Wealth Management LLC now owns 7,402 shares of the company's stock worth $203,000 after purchasing an additional 877 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NCNO shares. Raymond James Financial upped their price target on nCino from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Needham & Company LLC upped their price target on nCino from $33.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Robert W. Baird upped their price target on nCino from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Stephens increased their target price on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Finally, Baird R W raised nCino from a "hold" rating to a "strong-buy" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $33.94.

Insider Buying and Selling

In related news, insider April Rieger sold 3,028 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $27.45, for a total value of $83,118.60. Following the completion of the sale, the insider owned 240,523 shares of the company's stock, valued at approximately $6,602,356.35. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean Desmond sold 9,550 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $27.45, for a total value of $262,147.50. Following the completion of the sale, the chief executive officer directly owned 628,603 shares of the company's stock, valued at approximately $17,255,152.35. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,603 shares of company stock worth $593,002 in the last three months. Company insiders own 5.70% of the company's stock.

nCino Price Performance

Shares of NASDAQ:NCNO traded up $0.01 during midday trading on Monday, hitting $32.11. The company had a trading volume of 2,275,046 shares, compared to its average volume of 1,923,674. nCino Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -110.72, a price-to-earnings-growth ratio of 25.71 and a beta of 0.71. The business's 50-day simple moving average is $28.83 and its 200-day simple moving average is $27.34.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. nCino had a positive return on equity of 1.18% and a negative net margin of 5.86%.The firm had revenue of $148.82 million during the quarter, compared to analysts' expectations of $143.17 million. During the same quarter last year, the firm earned $0.14 earnings per share. The business's revenue for the quarter was up 12.4% on a year-over-year basis. nCino has set its FY 2026 guidance at 0.770-0.800 EPS. Q3 2026 guidance at 0.200-0.21 EPS. On average, research analysts predict that nCino Inc. will post 0.12 earnings per share for the current year.

nCino 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.