Amundi Acquires Shares of 322,516 nCino Inc. $NCNO

Key Points

• Amundi acquired 322,516 nCino shares worth approximately $4.83 million, giving it a 0.30% stake. Institutional investors collectively own 94.76% of the company.
• Analysts maintain a generally positive outlook, with nCino holding a consensus “Moderate Buy” rating and an average price target of $25.29; JPMorgan recently raised its target to $17 while retaining a neutral rating.
• nCino insiders sold roughly 67,222 shares worth $1.30 million in early August, primarily through Rule 10b5-1 plans to cover taxes on vested equity awards. The sales may pressure sentiment but executives retained substantial ownership.

Amundi bought a new position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 322,516 shares of the company's stock, valued at approximately $4,831,000. Amundi owned 0.30% of nCino as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC increased its holdings in nCino by 16.6% in the first quarter. Millennium Management LLC now owns 303,853 shares of the company's stock valued at $8,347,000 after buying an additional 43,247 shares in the last quarter. Woodline Partners LP grew its holdings in shares of nCino by 105.3% in the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company's stock worth $363,000 after acquiring an additional 6,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in nCino by 16.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company's stock valued at $7,731,000 after purchasing an additional 39,345 shares in the last quarter. Prudential Financial Inc. purchased a new position in nCino in the 2nd quarter valued at approximately $208,000. Finally, Marshall Wace LLP acquired a new position in nCino during the second quarter worth $4,163,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analyst Ratings Changes

NCNO has been the topic of several recent research reports. Keefe, Bruyette & Woods restated an "outperform" rating on shares of nCino in a research report on Wednesday, June 24th. Citigroup reissued a "market outperform" rating on shares of nCino in a research note on Monday, June 22nd. JPMorgan Chase & Co. upped their target price on shares of nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price target on shares of nCino in a research note on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of nCino from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.29.

More nCino News

Here are the key news stories impacting nCino this week:

• Neutral Sentiment: Company insiders collectively sold approximately 67,222 shares worth about $1.30 million across August 4–5. The transactions included CEO Sean Desmond, CFO Gregory Orenstein, Director Pierre Naude, SVP Jeanette Sellers, and insider April Rieger. SEC insider trading filing
• Neutral Sentiment: Most of the sales were executed under pre-arranged Rule 10b5-1 trading plans and were specifically made to cover tax-withholding obligations tied to vested equity awards. That makes the transactions less indicative of management abandoning its long-term outlook for nCino.
• Negative Sentiment: The breadth of the selling—particularly by the CEO and CFO—may nevertheless weigh on investor sentiment and create near-term supply pressure. CEO Sean Desmond sold roughly 40,490 shares, while CFO Gregory Orenstein sold 11,780 shares; both retained substantial ownership stakes after the transactions. SEC CFO filing

nCino Stock Performance

NCNO opened at $18.99 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50 day moving average price of $16.70 and a two-hundred day moving average price of $17.08. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 158.25 and a beta of 0.66.

Insider Activity

In related news, insider April Rieger sold 7,852 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $150,915.44. Following the transaction, the insider directly owned 375,749 shares of the company's stock, valued at approximately $7,221,895.78. This trade represents a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 11,780 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $226,411.60. Following the sale, the chief financial officer owned 690,513 shares of the company's stock, valued at approximately $13,271,659.86. The trade was a 1.68% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 83,350 shares of company stock valued at $1,568,144. 1.90% of the stock is currently owned by company insiders.

nCino Company 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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