Arrowstreet Capital Limited Partnership Purchases 571,413 Shares of nCino Inc. $NCNO

Arrowstreet Capital Limited Partnership increased its position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 1,349.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 613,770 shares of the company's stock after purchasing an additional 571,413 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.56% of nCino worth $9,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $29,000 after acquiring an additional 821 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in nCino in the 4th quarter valued at about $38,000. Farther Finance Advisors LLC grew its position in shares of nCino by 76.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company's stock worth $43,000 after purchasing an additional 722 shares in the last quarter. Quarry LP grew its position in shares of nCino by 138.2% during the 3rd quarter. Quarry LP now owns 1,701 shares of the company's stock worth $46,000 after purchasing an additional 987 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of nCino during the third quarter worth approximately $65,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Zacks Research lowered nCino from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Citizens Jmp decreased their price target on nCino from $32.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, May 18th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of nCino in a research report on Wednesday, June 24th. Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of nCino in a report on Thursday, May 28th. Finally, The Goldman Sachs Group dropped their target price on shares of nCino from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $25.29.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 14,650 shares of nCino stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $263,993.00. Following the sale, the chief financial officer directly owned 702,293 shares of the company's stock, valued at approximately $12,655,319.86. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 9,693 shares of nCino stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $174,667.86. Following the sale, the insider directly owned 383,601 shares in the company, valued at $6,912,490.02. The trade was a 2.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 119,964 shares of company stock worth $2,143,529 over the last three months. 1.90% of the stock is owned by corporate insiders.

nCino Stock Up 0.4%

Shares of NASDAQ:NCNO opened at $18.46 on Friday. The company has a fifty day moving average of $16.41 and a 200-day moving average of $17.28. The company has a market capitalization of $2.02 billion, a PE ratio of 153.83 and a beta of 0.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $33.92.

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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